What the 2024 Election Means for Blockchain's Future

This US Election Was a Defining Moment for Crypto—and the Future is Bright

This U.S. election was notable in many ways, but for those of us working on the leading edge of technology, one particularly inspiring element was the mobilization of the crypto and blockchain community. Amid the usual political haze, this community brought clarity and rallied support, propelling the cause of economic freedom forward. The Stand With Crypto initiative will go down in history, not just as a case study in exemplary political advocacy, but as a movement that will enable growth far beyond its community of enthusiasts, investors, and builders. The Stand With Crypto team deserves both credit and gratitude—particularly for Brian Armstrong and the team at Coinbase for their extraordinary leadership.

If you haven't yet, take a moment to read Brian's blog post, Reflections on the Election Through a Crypto Lens. In it, he covers how the election resulted in major wins for crypto, highlighting the success of pro-crypto candidates and the unprecedented unity of voters rallying for crypto rights.

But it’s what comes next that really gets me excited—and I think it should excite you too. This is an inflection point for our industry. A moment that looking backwards we will see a monumental shift that not only removed friction, but set the industry up to have the powerful flywheel we have all been looking for. Here are three big reasons to feel optimistic about the future of crypto:

Growing Talent and Resources

With this shift, the crypto ecosystem will dramatically accelerate its ability to attract top talent and investment. By 2025, expect to see a flood of Web2 developers, investors, and seasoned professionals entering the space. This influx of talent and resources will accelerate the building of a robust foundation for blockchain innovation. And where innovation flourishes, so does growth and monetization.

Legitimacy and Trust through Sensible Legislation

For the first time, we can expect sensible crypto legislation to take shape, bringing much-needed legitimacy to the industry. With this regulatory clarity, people can trust and embrace Web3 more readily, easing the path for newcomers and enabling long-term growth. This shift encourages users to explore blockchain-based projects that have real-world applications. The popularity of platforms like Polymarket in this election season underscores this transformation—it’s one of the first mainstream breakthroughs for a Web3 application. As the benefits of decentralized platforms become more visible, people will begin to understand that Web3 isn’t just for crypto insiders; it’s a space where everyone can participate and benefit. The result? More trust, more experimentation, and ultimately, more users.

Web2 Companies Embracing Blockchain

With clearer regulations, Web2 companies will become more willing to leverage their vast resources, talent, and user bases to explore blockchain’s potential. From consumer applications to payments, supply chain management, and data privacy, the possibilities are immense. Stripe’s recent acquisition of Bridge is just the beginning; we’re going to witness a shift as traditional tech giants start to incorporate decentralized technologies that enhance their products and services. This shift will fuel a new wave of blockchain adoption, blending the strengths of Web2 with Web3’s innovations. It creates a trusted bridge for vast existing user bases to cross as they embark on their journey into blockchain adoption

When you consider these factors—more builders entering the space, more interested users exploring Web3, and a trusted bridge for billions of Web2 users—these combined forces create a powerful, self-reinforcing cycle of growth and innovation, propelling the crypto ecosystem forward at an unprecedented pace.

From emerging talents to groundbreaking projects, the groundwork laid with this election is setting the stage for a thriving blockchain ecosystem. For those of us dedicated to this mission, it’s an exciting time to build, to innovate, and to drive meaningful change for years to come.

Two years ago, we founded Thirdwave with a simple idea: onchain insights drive better business outcomes. Today, as our industry enters this new era, we're more enthusiastic than ever about what we can build together.

One thing is clear, the future of crypto is very bright.