Top 8 Predictions for Blockchain Technology and crypto currency trends in 2019
Many people believe that blockchain, decentralized
applications, Bitcoin and cryptocurrencies will continue to exist.
Nine
years ago, the concept of digital currency was still
very complicated and only a few people could understand it, but now it
has
developed into a mature business. Bitcoin traders and investors around
the
world are attracted by crypto exchanges, and they are always looking for
additional ways to make more money. Lets us study the predictions for
factual analysis as how they were and how far they came true to accurate
set estimates further in future:
Although prices change almost daily, the total value of the
crypto market is steadily increasing. The Bitcoin bubble of December 2017
quickly burst, leading to a bear market in 2018. However, the vast majority of
investors remain optimistic and look to the future.
It's all thanks to blockchain technology, which powers the
crypto world. Whether you are a Bitcoin trader or a blockchain enthusiast, here
are the blockchain predictions for 2019 that will help you better understand
the technology.
1. Blockchain will meet the Internet of Things
According to a report from International Data Corporation,
many IoT companies will integrate blockchain technology into their products.
IDC predicts that by 2019, 20% of IoT deployments will install blockchain
services.
With the help of blockchain technology, they plan to improve
services and increase sales. In fact, we already have digital startups in this
space, and we can only expect the industry to grow in 2019.
Why is it a blockchain? Because it is based on a distributed
and decentralized system, it provides a secure framework for communication
between IoT devices. It allows the automatic exchange of data between them and
is highly resistant to network attacks and other network problems.
2. There will be a large number of companies adopting blockchain
Deloitte's 2018 Global Blockchain Survey revealed that 40% of
respondents stated that their institution will invest $ 5 million or more in
blockchain technology in 2019.
The same study shows that 74% of respondents believe that
this technology will bring many benefits to their company.
First, IBM has developed blockchain products that allow
startups and developers to build decentralized applications. As more and more
companies move towards this emerging technology, we can expect that this
technology will be promoted to some extent in the coming year.
3. Trading on crypto exchanges
The number and popularity of crypto exchanges has recently
increased. In fact, their impact on the crypto world is so great that a tweet
or public statement from the CEO of any of the leading crypto exchanges could
affect the price of a particular cryptocurrency.
Just a few weeks ago, Coinbase and Binance, the world's
leading crypto exchanges, publicly supported the upcoming Bitcoin Cash hard
fork before controversy and confusion arose in mid-November.
As cryptocurrencies continue to evolve, crypto exchanges and
their impact on the crypto world will continue to evolve. Next year is no
exception.
4. Games and crypto space
There are many startups using crypto tokens and launching
many blockchain-based video game related services. For example, Singapore-based
startup Bountie plans to launch an online gaming platform where players will
receive cryptocurrency rewards for playing games on that platform.
Later, they can use these tokens to buy a new game,
merchandise, etc.
The development of blockchain gaming platforms may require
more effort, but some of them will be released in 2019.
5. Decentralized applications will continue to grow
The first Ethereum decentralized game was Crypto Cat. The
purpose of this game is to collect and breed digital cats.
This decentralized application did not completely change any
system, but it did bring an idea that caught the attention of many developers
who quickly realized the potential of decentralized applications and the
Ethereum network.
Nonetheless, experts believe that 2019 will be a year of
widespread decentralized applications.
6. Blockchain will disrupt the industry
Throughout the Internet, the term "blockchain" is
associated with ICOs, Bitcoin, and everything related to cryptocurrencies.
However, this is just one of many applications that spread like wildfire.
The financial industry is just one area where this technology
makes things the best.
For example, did you know that the supply chain and shipping
industry also profit from the blockchain? Now that this data can be tracked
through immutable public ledgers, transporting and shipping goods (such as
fresh food) has become more efficient and reliable.
Other industries that implement blockchain in operations
include network security, insurance, healthcare, and more.
It can be safely said that by 2019, the adoption of blockchain
will reach an unprecedented scale. We should not be surprised at its emergence
in almost all industries.
7. Decentralized exchanges will increase
The number of decentralized crypto exchanges is likely to
increase in the coming year.
Although most crypto exchanges are currently centralized
(ironically), decentralized crypto exchanges will increase in number because
they provide better user control, higher security, and better liquidity.
8. Government agencies are more likely to adopt blockchain
The concept of an immutable distributed ledger and its level
of security has attracted governments to consider using it to store data on
such systems.
It can save various data blocks from anywhere in the world.
For example, Estonia has implemented blockchain technology on X-Road, a
decentralized ledger that stores credentials for all citizens.
To Sum up
To be sure, blockchain will bring revolutionary changes to
business processes in many industries. However, full adoption will require
significant time and effort. In addition, one thing we know about all Bitcoin,
blockchain, and cryptocurrency predictions-the blockchain and crypto industries
are growing rapidly.
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