Crypto Venture Capital Hashed recently published a strategic report titled “The Protocol Economy: 2026 Thesis,” which states that the cryptocurrency industry is very close to the stage of “connecting applications with the real economy,” and that the real boom will occur in 2026. According to Hashed, 2025 marked a crucial turning point as the crypto market moved away from the era of chasing marketing narratives and expectations, shifting to a phase focused on execution capabilities, with real users, real volume , and real revenue becoming the core criteria for evaluating the value of a blockchain project.
In this report, Hashed emphasizes that stablecoins are the first crypto infrastructure layer to demonstrate successful real-world application. Beyond Vai as a means of payment or a transaction intermediary on exchanges, stablecoins have been deeply integrated into business operations, e-commerce, cross-border money transfers, and cash flow management in many emerging markets. This is XEM as a crucial stepping stone for crypto to break free from the "speculative cycle" and move closer to its Vai as a global financial infrastructure.
Looking ahead to 2026, Hashed predicts this will be a period of explosive growth for blockchain applications integrated into the real economy. Artificial intelligence is projected to completely reshape how Web3 applications are built and how users interact with blockchain, from wallet experiences and DeFi protocols to on-chain data platforms. Simultaneously, privacy will emerge as the industry's biggest structural issue following the scaling story, as blockchain is increasingly used in finance, business, and the governance of sensitive data.
Hashed also believes that stablecoins will continue to evolve, moving beyond Vai as mere payment instruments to become working Capital management infrastructure for businesses, especially in the context of increasingly digitized global trade and supply chain . At the same time, Tokenize real-world assets (RWA) are considered the first area in crypto with the potential to reach large-scale application, thanks to the direct connection between real-world assets such as bonds, real estate, and commodities with blockchain infrastructure.
