In its latest study regarding the global crypto domain, Kaspersky Labs has found that by the end of 2019, a lot of the hype currently surrounding ‘blockchain technology’ will start to disappear. This according to the authors of this report will be due to various businesses realizing that this technology has many functional restrictions of its own (which make its application quite unsuitable within certain industrial domains).
According to the report:
“The reliable application of blockchain beyond cryptocurrency has been explored and experimented with for years, but there is little evidence of achievement. We expect 2019 to be the year people stop trying.”
In addition to all this, the study also seems to imply that as we move in to the future, the use of digital assets may also drop substantially (especially as more and more people start to move towards different digital payment mediums). Not only that, a lot of blockchain based altcoin networks currently seem to be ridden with issues such as:
- High network fees
- Price volatility
Bitcoin’s Golden Days Are Behind It
One of the most pessimistic assertions of Kaspersky’s latest report is that Bitcoin and its contemporaries will never return to their former financial dominance (and that they have bid adieu to their glory days).
“We believe there is a finite audience for whom cryptocurrencies are of interest, and once that limit is reached the price will not rise further,”
As many of our readers already know, the crypto market recently faced a fresh onslaught of bearish pressure after a few weeks of continuous economic stagnation. After the massive spike in value that was witnessed by the crypto sector all through 2017, it now remains to be seen what the future holds for this volatile market space.