Blockchain is under discussion industry of the 2 years. In fact, this industry is much larger than the earnings on cryptocurrency, as it seems to many. We offer you a list of blockchain trends that are relevant now and will retain their influence in 2019.
Alexey Chernyak, an expert, claims that many companies will not fulfill their obligations under ICO projects. Accordingly, a whole wave of “deceived investors” will try to defend their rights through the courts. It will be quite an interesting challenge for lawyers. On the one hand, such a phenomenon will make it possible to earn good money in case of winning the case. On the other hand, the blockchain is a poorly regulated sphere in many respects by legislation. Time will tell whether they will adopt relevant laws on the basis of precedents. However, the situation is quite ambiguous, at the moment.
The revival of the industry
When the blockchain is no longer associated with the “draft” from deceiving investors in many ICO projects, legislation will be adopted that will be able to qualitatively regulate this industry. From this point on, it will be possible to talk about the real development of the sphere and the strengthening of the blockchain image as a phenomenon. When this happens, the justified growth of the blockchain will begin, and investors will feel protected. It will happen at least by the end of this year. However, most likely – in the following.
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According to Alexey Chernyak, there will see the result of the competition of cryptocurrencies among themselves in the near future. There will be 2-3 currencies that win, and the rest will remain in the “long tail”. Perhaps there will be new cryptocurrencies, which will be superior in their properties to Ethereum and Bitcoin. It is likely that over time the cryptocurrency will become a full-fledged competitor to traditional money. Some analysts believe that this may even shake the monopoly of states associated with the issuance of money. But not everyone is inclined to this option.
Security and data protection issues
Cybercrime in the modern world is as dangerous as a crime in the traditional form in which people are often used to perceive it. Therefore, cybersecurity-related projects will receive special demand. Startups that offer real ways to protect cryptocurrencies from intruders may become popular.
Simplification and acceleration
It is assumed that there will be much more blockchain services with a simplified mechanism of operation. This will increase their accessibility for people who do not have specialized knowledge. Regarding to acceleration, there should be more architectural solutions that will improve the throughput of the blockchain. User transactions will be carried out more quickly.
Government competition in the blockchain
Alexey Chernyak thinks that countries and jurisdictions will compete with each other in order to be able to attract the best minds for projects in the blockchain. However, this is far from all. Some governments initially showed a vigilance for the blockchain and came up with an appropriate information policy, urging their citizens not to trust this technology. For example, China was among those countries.
Development of quantum blockchain technology
Researchers in the Russian Federation announced that they are developing a blockchain technology that involves the use of quanta. It is reported that it will be completed in 2019 its industrial refinement. This is evidenced by scientist Yuri Kurochkin, who heads the Russian Quantum Center. If such a task is really implemented in 2019, then this scientific fact will affect the whole blockchain industry.
According to Kurochkin, Russian researchers were the first in the world to take on this technology. With the creation of quantum computers, which are being developed by researchers all over the world, the quantum blockchain can provide the means for high-quality cyber defense. According to the developers of technology, with the help of quantum computers, attackers would be able to crack online wallets, which are based on blockchain technology, around the world. It is increased security that is the main reason why many users choose such wallets for themselves. If quantum opportunities are also used to protect the blockchain, then, according to Kurochkin, it will be possible to exclude the possibility of hacking online wallets.
While the quantum computer is a theory, and practical developments in this direction are rather weak. The interest of scholars from around the world to this opportunity was significantly stimulated by the mentioned research group to go ahead of the curve. In the modern world, cybersecurity issues are often resolved according to this principle.
The next few years will show us how far scientists will progress in creating quantum computers and, accordingly, whether the quantum blockchain will be in demand.
The impact of the Internet of things on the blockchain
The IoT trends and the blockchain are integrating in some directions. There are various forecasts, concerning such further integration. According to some researchers, the use of blockchain technology on the Internet of Things will reach 5% by 2019. Other analysts see more prospects for integration and believe that this figure will be at the level of 20%. However, whatever the dispute about percentages, the trend itself becomes apparent. There are also predictions that the blockchain, in addition to the Internet of things, will also be used in the field of automated insurance.
Blockchain networks will work according to the law
This trend is predicted by expert Oleg Solozobov and by Alexey Chernyak. Consequently, in 2019 the process will intensify and strengthen. Solozobov notes that smart contacts are closely associated with bitcoin and blockchain as such. They are codes that are stored in a computational process and are used to automate business operations. For companies that want to work on the blockchain base, this tool is very important. According to the expert, it can be used to increase productivity.
When disagreements and disputes begin between the two parties, the blockchain attempts to put legislative levers into action to resolve the issue. However, the sphere is not settled yet. Perhaps the presence of a higher supervising institution to some extent would allow solving this problem. In general, the issue of decentralized currencies is still very vague. If we talk about control, here both the blockchain network and the controlling party will have to accept certain rules of the game. It is difficult to say how this will be implemented.
Change in attitude of large banks to cryptocurrency
Some large banks expressed a radical view last year that they oppose credit card transactions related to the acquisition of cryptocurrency by customers. According to some analysts, in the near future, banking institutions will see the potential of this industry and become more loyal to this matter. According to some analysts, in the near future, banking institutions will see the potential of this industry and become more loyal to this matter. In many respects, everything depends on whether, after all, the blockchain is better settled from a legislative point of view.
Transition to full production
More recently, the blockchain has been associated primarily with experimental projects. Only some of them went into a full-fledged stage of production. It is likely that the situation will change somewhat in the near future. However, the blockchain will help to effectively make decisions at the expense of the level of profitability of a project, in the future.
Using the blockchain in new industries
Opinions are voiced that the blockchain contributes to the development of many industries. Among them, the key will be insurance and finance. Perhaps the technology will be involved in the organization of supplies, as well as payments in international currency.
As for the insurance industry, the blockchain will allow better to regulate situations related to the occurrence of claims (according to experts). There is a chance of reducing fraud. The use of the blockchain in the areas of education, transport, healthcare and even government is also projected.
Entry into the markets of Asia and the Middle East
Already, the popularity of blockchain technology in the Middle East and Asia has already been noted. Local consumers show considerable interest in this technology. By the way, the above talked about a fairly careful attitude of large banks to this technology at the moment. The above trend has some exceptions. These are banking institutions that are located in Japan and South Korea. They use the blockchain experimentally, which has already helped achieve cost savings.
Despite skepticism, the blockchain sphere is developing and many companies see it as a prospect. To summarize the current trends, they are:
– Formation of the industry to a more serious level after a wave of fraudulent projects. Greater awareness of actors that use technology.
– Increased demand for cybersecurity-related projects. The development of a quantum blockchain project, which can be greatly supported in the case of a quantum computer.
– Simplification and acceleration of modern blockchain services.
– The likelihood of state competition in the blockchain industry. There will be countries that are hostile to technology, at the same time.
– Transition from pilot projects to full production.
– Blockchain entry to the markets of Asian and Middle Eastern countries.
It will be possible to see which of these expected trends will remain hypothetical, in the near future, and which ones will be developed in practice.