From cryptocurrency to romaine lettuce, blockchain technology is changing our world.
Blockchain networks allow information to be distributed–but not copied. Because of this, it has the potential to change everything about the internet.
What are blockchain experts predicting for 2019? Here are five trends to watch out for in this exciting up-and-coming industry.
1. Security Tokens
The number of companies using blockchain for good is on the rise.
One area blockchain experts are especially excited about is the development of security tokens. Combining the benefits of blockchain technology with the world of IPO could redefine the entire business.
The result of this “programmable equity” would be increased efficiency and higher liquidity–all at a much lower cost. While these tokens aren’t available yet, experts are hoping to see them roll out later this year.
2. Booming Asian Markets
China might still be under lock and key when it comes to online regulations, but not other countries in Asia.
Many Asian nations are opening blockchain technology with open arms. Among them are Thailand, which is the region’s major blockchain hub. Meanwhile, South Korea is in the process of finishing a blockchain-based national voting system.
Experts also predict a lot of interest from tech-forward countries like Japan and Singapore. Both have large, developed business bases that will be very appealing to blockchain companies.
3. Blockchain as a Service (BaaS)
Many small businesses are interested in blockchain technology, and some have tried to create their own. Biggies such as Amazon and Microsoft already offer it.
This isn’t always a feasible option for smaller companies, though. This is why we’ll start seeing a cloud-based BaaS offering (blockchain as a service) in 2019.
This exciting development will enable businesses to build their own apps and contracts. They can do so without setting up or managing their own internal blockchain infrastructure.
4. Hybrid Blockchains
The latest blockchain developments seek to bridge the gap between the crypto and the traditional.
These “hybrids” will offer the best features and functionality to both public and private companies. Government agencies, for example, can use this technology to protect sensitive information while still allowing interaction with the public.
This technology could also affect voting systems, land registries, and digital asset management.
5. UX Development
Although blockchain technology is on the rise, we still haven’t seen mass adoption yet.
That may begin to change in 2019 with more focus on usability. Current applications feature complex interfaces that could baffle all but the most tech-savvy minds.
2019 will usher in a new era of blockchain networks that are easier to understand and navigate. The goal is to make it accessible and desirable to the average business owner.
Final Thoughts from Blockchain Experts
As you can see, blockchain experts see a lot of exciting developments on the horizon.
From digital security tokens to UX development, blockchain technology isn’t going anywhere soon. In fact, it may soon change the internet (as we know it) forever.
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