Investing Legend Fred Wilson Reveals 10 Predictions for the Next Decade: From Crypto to the Climate Crisis
Venture capitalist Fred Wilson has formulated a comprehensive list of predictions for the coming decade.
The legendary investor, who co-founded Union Square Ventures and made early-stage investments in Twitter, Tumblr and Etsy, weighs in science, tech, finance and shifting values, with his take on cryptocurrencies ringing in at number four.
According to Wilson, China’s plans to launch a digital yuan will propel Asia to dominate the crypto industry – as the US lags.
“Countries will create and promote digital/crypto versions of their fiat currencies, led by China who moves first and benefits the most from this move. The US will be hamstrung by regulatory restraints and will be slow to move, allowing other countries and regions to lead the crypto sector.
Asian crypto exchanges, unchecked by cumbersome regulatory restraints in Europe and the US and leveraging decentralized finance technologies, will become the dominant capital markets for all types of financial instruments.”
Although Wilson is feeling optimistic about the decade ahead, he says the scope of the impact of the climate crisis is like the two world wars of the previous century.
Wilson’s 10 Predictions
1. Climate crisis Countries and corporate giants will be forced to re-allocate capital to fight against a warming planet.
2. Automation Critics will question capitalism and test ways to reallocate wealth.
3. China The tech-focused superpower will emerge as the world leader.
4. Crypto Governments will roll out digital currencies.
5. Decentralization A defining decentralized consumer app will arrive in the latter part of the decade.
6. Food Production will shift to labs and veganism will be the most prevalent diet.
7. Space Governments will take a back seat as private companies dominate space exploration.
8. Mass surveillance Privacy tools will gain relevance and traction.
9. Values Millennials and Gen-Z will rewrite the rules.
10. Genetics More ethical issues will arise as advancements affecting diseases and fertility continue.
You can check out “What Will Happen in the 2020s” here.
Featured Image: Shutterstock/PLRANG ART Artur Furmanek