Blockchain technology is booming and it is has become popular among big corporate players as well. Those who are interested in the crypto and blockchain market may be looking ahead at 2018 and wondering where things are going. Fortunately, here are the top eight predictions concerning the technology for 2019.
- Blockchain Will Meet Internet of Things
Internet of Things technology is growing and according to the International Data Corporation, such companies are planning on expanding the technology to their products. Blockchain technology is poised to lead to an improvement of service and to boost sales. Blockchain is beneficial for these industries as well because it has a secure framework and it automates data exchange.
- Blockchain Mass Adoption
A survey conducted by the International Data Corporation found that the survey’s respondents were willing to invest millions into blockchain technology this coming year. Further, respondents also reported that such technology will provide benefits for their companies as well. One example is IBM, which has developed a blockchain system for developers who are interested in creating a decentralized app.
- Crypto Exchange Trades
Crypto exchanges have been increasing in popularity and any social media commentary by crypto exchanges and leaders can impact prices. This scenario recently played out with Coinbase and Binance during the Bitcoin Cash Hard Fork. Thus, it may be beneficial to take a look at exchanges in the coming year.
Video gaming services are also becoming increasingly interested in crypto tokens and founding their services on blockchain technology. One popular example is Bountie, a company that is planning on launching a gaming platform that allows players to receive rewards in cryptocurrencies. They can use the cryptocurrency payments to purchase games and merchandise.
- Decentralized Apps and Growth
Ethereum’s first dapp was CryptoKitties and the purpose of this system was to enable users to collect and breed digital cats. Though the system did not do much for the industry, it served an idea that saw a great deal of potential and provided promise for future dapp games.
- Industry Disruption
Blockchain is related to terms such as ICOs, Bitcoin, and cryptocurrency in general. The technology is poised to change various industries, the banking industry being one of the most significant. Other industries that the technology is also impacting is the shipping and supply chain industries. It is likely that the types of industries impacted will grow as blockchain technology will become more popular.
- An Increase in Decentralized Exchanges
The blockchain industry may also boost decentralized crypto exchanges. Even though such exchanges are, oddly enough, more decentralized, it is likely that they will increase due to the technology.
- Government Agencies
The final player that may move into the blockchain industry is government agencies. These agencies appreciate the immutable distributed ledger and the security that they provide.
Overall, here are just a few of the main areas that blockchain may grow, permeate, and evolve in this coming year.