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Conclusive Blockchain Predictions for 2019
The days are growing shorter, and we can't help but focus on an all-new 2019, and the latest tech trends in store for us.
One of the rapidly growing technologies we'll be talking about today is blockchain.
Blockchain has become a key technology for enterprises and organization requiring trustless transactions and secure record storage.
With Blockchain solutions, enterprises can track transaction activities with improved security and confidence.
On the other hand, blockchain adoption is also gaining significant traction in enterprise environments.
However, although there are numerous technical benefits of the blockchain technology, enterprises wanting to take budget decisions and start pilot projects or complete implementations should ponder over where the technology is heading, what type of tools are needed, and what sort of challenges can occur.
The first thing that enterprises should consider is the overestimation of the impact of the blockchain technology on your organization 'immediately,' but they can be bullish on the mid to long-term prospects.
All in all, there are significant indications that the blockchain adoption by enterprises will continue to grow in 2019 as well.
Here we have outlined seven future blockchain predictions for 2019.
Blockchain Meets the Internet of Things
As per a report by International Data Corporation, numerous IoT companies will be resorting to Blockchain Development Services to incorporate the blockchain technology and solutions with their business sphere and products.
According to IDC, 20% of IoT deployments and developments will have blockchain technology or services installed by 2019.
With the help Blockchain based IoT products, we will be projecting toward improving services and thus, increase sales. Already, numerous digital startups are looking to gain some traction in this niche. We expect that the domain will likely grow in 2019.
Why are we talking so much about Blockchain? Because it is a decentralized and distributed system. It offers a secure framework for creating a smooth flow of communication between IoT devices.
Widespread Adoption of Blockchain
As per Deloitte's Global Blockchain Survey 2018, 40% of respondents suggested that they would be investing at least $5 million to incorporate the blockchain technology within their organizations by 2019.
[caption id="attachment_3119" align="alignnone" width="730"]
source: www.deloitte.com[/caption]According to the same survey, 74% of respondents find that blockchain is highly likely to bring significant benefits to their companies.
Trading on Cryptocurrency Exchange Platforms
Recently, Cryptocurrency Exchange Platforms amassed notable popularity and grown exponentially. It has become in trend to an extent where even a single tweet or a public announcement by the CEO of any top crypto exchange platform can hugely impact the price of particular cryptocurrencies.
Such an event happened a few weeks ago when two of the leading crypto exchange websites like Binance and Coinbase publicly supported the Bitcoin Cash hark fork just before the chaos it created during mid-November.
The bottom line is that as cryptocurrencies continue to grow in their popularity, so will crypto exchanges software as well as their development services.
It's one of the blockchain predictions for 2019 that will make even this year no exception.
Cryptocurrency and the Gaming Space
Numerous startups using crypto token and launching blockchain based video game-related services.
For instance, a Singapore based startup Bountie aims to launch an online gaming platform. The unique concept of the game is that it will reward gamers cryptocurrencies for the time they spend playing games on it.
Further, players can trade those coins with a new game, merchandise, etc.
However, as for now, the blockchain based gaming platforms would need more research and development. Some are scheduled to be released in 2019.
The boom of Blockchain based gaming and cryptocurrency development are the blockchain predictions for 2019, in which blockchain enthusiast can invest without any hesitation.
Decentralization will Rule
Cryptokitties is the first Ethereum based DApp (Decentralized Application). The game was played to collect and breed digital cats.
Crypokitties failed to achieve expected popularity, but it did bring an idea that caught the attention of blockchain developers. Developers were quick to realize the potential of Ethereum network and DApps in general.
Blockchain will Cause Disruption in various Industries
Over the internet, the word 'blockchain' is mainly associated with ICOs, Bitcoin, and everything surrounding cryptocurrencies.
Although it is one of the numerous blockchain applications spreading like wildfire, the Fintech sector is one area where Blockchain has caused the most disruption.
Not only this but the supply chain and logistics (shipping) industry have also profited from it. With blockchain based supply chain development solutions and services, you can track data related to shipping and goods transportation via immutable public ledger system.
Other industry sectors moving toward blockchain adoption include cybersecurity, insurance, healthcare, etc.
So, it's safe to call that industry disruption by blockchain is one of the right blockchain predictions for 2019. We shouldn't be amazed to see blockchain virtually taking over almost every industry.
Governments will be more open to Adopt Blockchain
The concept of the digital, immutable and shared database and its various security features have forced governments to consider incorporating it for data storage on such a system.
For instance, Estonia has already begun using blockchain technology with X-Road. It's a decentralized databased used to store credentials of all citizens.
The Bottom Line
After thorough research and data gathering, we have prepared this list of most reliable blockchain predictions for 2019.
It has now become significant that 2019 is also going to be Blockchain's year. It will revolutionize business operations for various industries.
However, global adoption would require a great deal of effort and time.
Further, amidst all the cryptocurrency and blockchain predictions for 2019, there's one thing that we know for sure - crypto and blockchain adoption is rapidly growing.
Indeed, be ready for a decentralized world, a world that'll be run by Blockchains.
