On Thursday (December 30), Surojit Chatterjee, Chief Product Officer at Coinbase, offered “10 predictions for Web3 and the cryptoeconomy for 2022.”

Chatterjee’s blog post contained the following predictions:

  • “Eth scalability will improve, but newer L1 chains will see substantial growth”
  • “There will be significant usability improvements in L1-L2 bridges”
  • “Zero knowledge proof technology will get increased traction”
  • “Regulated Defi and emergence of on-chain KYC attestation”
  • “Institutions will play a much bigger role in Defi participation”
  • “Defi insurance will emerge”
  • “NFT Based Communities will give material competition to Web 2.0 social networks”
  • “Brands will start actively participating in the metaverse and NFTs”
  • “Web2 companies will wake up and will try to get into Web3”
  • “Time for DAO 2.0”

According to a report by Protocol published on 23 August 2021, Chatterjee “bought his first bitcoin shortly after the Indian government’s stunning announcement in 2016 that most of the country’s currency would soon be worthless.”

Chatterjee, who was at the time head of product at Indian online shopping giant Flipkart, told Protocol he got “really worried” after his father told him that he didn’t know what to do.

This was when Chatterjee realized that it was important to own so BTC and so he bought his first bitcoin.

Then, in 2017, went back to Google to work on mobile search ads , and in February 2020, he joined the crypto space by starting work at Coinbase as its chief product officer.

During his interview with Protocol, Chatterjee was asked what Coinbase could do to make Bitcoin a much faster payments system.

Chatterjee replied:

“Bitcoin is slow. But it’s like the early internet was very slow, not meant for ecommerce. Now we cannot imagine commerce without the internet. I think the same thing will happen.

“All these L2 protocols are coming in. We are already supporting Polygon and Optimism. We are building our teams to help accelerate the whole ecosystem. Like I said, this just helps the whole industry, not just us. You’ll see us doing more.“

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured Image by “Tumisu” via Pixabay