Crypto is Here to Stay: Kraken CPO

NFTs and decentralized identities reflect the kind of use cases that crypto-based technologies will offer in the future.

Jeremy Welch, chief product officer at Kraken, explained that while millennials are known to be showing a greater interest in cryptocurrencies, the industry is developing use cases to attract Gen X, Gen Z, and even baby boomers.

In an interview published today, Welch pointed out that the enthusiasm for blockchain, crypto and related technologies is seen in over 170 countries, both across age groups and across different backgrounds.

The executive explained that not only cryptocurrencies such as Bitcoin, Dogecoin and Shiba Inu, but also new opportunities such as NFTs and staking are widely used. These upcoming use cases will further drive acceptance, Welch believed.

“It’s one thing to keep your assets in crypto, it’s another to be able to use it practically practically”, said the CPO.

The comments on the growing interest in staking come from Kraken’s acquisition of Staked, a blockchain infrastructure platform that enables unsecured crypto staking. When asked how important the acquisition is, Welch explained that staking is part of the proof-of-stakes consensus mechanism and allows users to support a network while earning rewards.

The executive also explained that Kraken has experienced tremendous growth and enthusiasm for staking, with a 900% growth in asset staking among its clients. He added that staking represents opportunities for further product development.

Responding to questions about the broader progress of the industry, Welch said that after a decade of the Bitcoin era, there should be no doubt that crypto will persist:

“The technology will not disappear and will continue to expand its use cases. We are seeing things like NFTs, art and new developments around decentralized identity and can expect many more use cases of this kind in the coming years.“

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...