Speaking at the Hong Kong Web3 Carnival conference, Catherine Wood noted that blockchain technology is maturing every year. Web3 and blockchain will have a significant impact on various sectors of the global economy, including finance and e-commerce. Web3 will be available to everyone connected to the Internet, Wood said.
A decisive role in the development of Web3 will be played by artificial intelligence (AI), which, along with blockchain, is becoming increasingly popular in the gaming industry, Wood noted. Integrating these technologies can lead to the creation of new and exciting products and experiences. Wood cited the example of Japanese entertainment conglomerate Sony, which began testing its own stablecoin pegged to the Japanese yen in the Polygon blockchain sandbox.
The head of ARK Invest touched upon the topic related to the approval of spot Bitcoin ETFs in the United States. She sees this as an important milestone for the digital asset industry, as cryptocurrency ETFs drive Bitcoin adoption among large corporations. In turn, this will lead to mass adoption of Bitcoin and a decrease in the volatility of the crypto market, Wood is sure.
Wood noted the regulatory hurdles facing the cryptocurrency industry in the United States and praised Hong Kong's progressive approach to cryptocurrencies. Thus, in February, Hong Kong authorities announced plans to introduce a special legislative regime for issuers of stablecoins.
Let us recall that at the beginning of the year, the CEO of ARK Invest made a bold forecast: by 2030, the price of the first cryptocurrency could reach $1.5 million thanks to the emergence of Bitcoin exchange-traded funds in the United States.
Source: Bits
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