The year 2018 has been a highly volatile year for blockchain technology as well as cryptocurrencies. The traders have got huge return towards the beginning while the rest of the year was exactly opposite. There is no doubt that there are a lot of uncertainties with cryptocurrencies in the global world. There is no doubt in the fact that blockchain technology is futuristic and there are a lot of possibilities and the following is the
Blockchain Technology In IoT –
The Internet of Things is a big platform where blockchain technology has made an entry this year. The year 2019 is growing to see to huge expanding the technology in the sector. There are major IoT companies who are incorporating the technology into their products. The services and sales will increase. The reason for the growth is that the technology is tailor-made for IoT as it is distributed and decentralized which provides better security.
Blockchain Technology In IT Companies –
The real growth and certainty will come in blockchain technology will come when the major IT companies start to implement blockchain technology is a large scale. The current year has seen major IT companies training the employees in the technology. IBM is the frontrunner to put blockchain technology in the map permanently. They are more into decentralized apps, and it is expected that the other major global companies will take up the same next year and bring a major revolution steadily.
Gaming and Crypto Tokens –
Gaming is a great industry that can boost the usual of cryptocurrencies like never before. Most of the games have the use of tokens to buy accessories and unlocking levels. If the big gaming companies start to incorporate cryptocurrencies in their gaming system such that the gamers can pay crypto tokens at a discount to purchase things they want to, it is going to be a breakout in the cryptocurrencies market. As a matter of fact, some gaming companies have started to reward the winning gamers in cryptocurrencies.
Industry Disruptions –
So far we know that blockchain technology has disrupted the financial industry though the rate of disruption has been cut down. However, there are various other industries where blockchain technology can disrupt and has already started to. For example, there is a huge disruption being witnessed in the logistics industry where public ledger plays an important role.
Apart from that, there are disruptions expected in the insurance and healthcare industry. In fact, the coming years will see blockchain technology touching every industry. In fact, AIG is implementing the blockchain system to make the complex policies simple for the users. Once it is successfully done, the other insurers will follow soon. The use of smart contracts concept is the reason for the percolation in the different industries.
The Rise Of Crypto Trend in Asia –
Asia will come out as the hub of blockchain technology and cryptocurrencies in the world. Japan is where it started, and even though China and India have suppressed and criticized it, countries like Japan, Singapore, South Korea, and Thailand are promoting cryptocurrencies massively. This move is going to be contagious and spread across Asia. Along with that, some of the richest countries in the world like Dubai and Saudi Arabia are boosting cryptocurrencies.
In fact, you can see the rise of successful startups in these countries in the near future from Asia. The youth of these countries are in favor of cryptocurrency use. When there is the support system of the youth, the growth will be consistent, and it has the backup of the government agencies.
Startup Risks –
On the flip side, there is a high risk of blockchain startups based out of US failing because the investors have put in too much money in them towards the beginning of the year after seeing the booming in the technology. However, due to the global scenario and bursting of the boom, the exponential growth of blockchain technology has become linear.
Therefore, the startups will not be able to deliver as per the expectations of the investors. On top of that, the cryptocurrencies are not yet settled as some of them are taking the fall while others are rising. Therefore, it is still in an immature state and will need to decade instead of just a year to flourish.
Demand For Blockchain Experts –
It is very clear that blockchain technology will be in demand and trend in 2019 and along with that, the blockchain experts will be in huge demand. The online freelancing platforms are seeing their clients posting to hire blockchain experts like never before. There will be IT companies and blockchain startups which will increase the hiring of blockchain demands in the coming year.
Apart from these, you will see an increase in the number of cryptocurrency exchanges and more and more government agencies will come forward to accept blockchain and adopt its technology for their systems.