10% of the world economy will be on the blockchain by 2027; we bet on it: Ketan Makwana on CoinGeek Backstage
width=”560″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
In recent years, blockchain technology has attracted billions of dollars in investment as it breaks into every other industry. As Ketan Makwana revealed, investment in blockchain will only increase, and with 10% of the global economy predicted to be on the blockchain in five years, his venture capital firm is betting on Bitcoin SV (BSV).
Makwana is co-chairman and founder of Seventy7 Ventures, a venture and capital solutions partner that invests in the creative industries, including fashion, music, media and culture. The company is now seeking to transfer its portfolio companies to Web3, Makwana told CoinGeek Backstage host Becky Liggero.
For him, deciding which company to invest in is a simple process focusing on products, people and profits. The VC veteran advised blockchain innovators to stop focusing on the complexity that makes your idea unique, and instead focus on how simple your solution is and whether it solves a problem.
Makwana believes that the future will be on the blockchain. Already, experts estimate that technology will anchor 10% of the $103 trillion global economy in five years. While financial services have taken the lead, other industries, such as the public sector, sports, media, telecommunications and manufacturing, are already integrating the technology into their operations.
Makwana believes there will be some inevitable level of applications that will be blockchain agnostic. However, he pointed out that the BSV blockchain stands out.
While at the BSV Global Blockchain Convention, Makwana says he finally understood “the power of what BSV can do and its competitive advantage. It just needs more visibility so more people can come in.”
Makwana is also the founder of Cryptolytx, a content media streaming platform that offers curated content on topics such as digital assets, non-fungible tokens (NFT), metaverse and blockchain technology.
While at the Dubai Congress, Makwana made the decision to integrate BSV-powered micropayments, allowing users to get paid every time their content is available.
See: BSV Global Blockchain Convention panel, Blockchain VCs: Adoption is key
width=”560″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.
