Trends for Blockchain

04/25/2019

Blockchain is one of the biggest and hottest debates in the tech world. 2018 has proven to be a huge year for blockchain, and the force that it can play in the future. Since Bitcoin, blockchains originator, had its massive surge at the start of 2018, it fell back again and the topic of what needs to change, and how, in the blockchain world is still hotly debated.

There are many that are still pushing for blockchain and cryptocurrency as the future of how we do business and conduct our day-to-day life. Big name companies, such as IBM and Walmart, are still out there trying to figure out how they can stake their claim in the blockchain world.

Here are a few future trends for blockchain that we should keep and eye on for 2019.

  1. More Security, Less Scams

Since blockchain tech has blown up in the last year, get rich quick schemes have been scamming more and more companies and people. This is an issue that regulators have started to address and stepped in so they can control the flow of traffic in blockchain technology. They are providing a better environment and a safety net that wasn´t there previously.

Big companies are stepping in so that there is more accountability and better transparency. With better transparency, blockchain users will be better equipped at recognizing a scam and can have a better understanding where their product is coming from and who it came from.

  1. The IoT and Blockchain

As the amount of devices that are connected to the IoT increases dramatically every year, it has become increasingly harder to make sure that those devices are and will be secure. This can become a substantial problem for companies when these devices are connected to their network and are being used. Blockchain can effectively stop this and create a better system for these devices to connect to that will make it harder for hackers to get into their system.

Furthermore, blockchain will make machine to machine communication better and more transparent. Blockchain can be used to monitor and log transactions and communications between machines and businesses, which will make it much harder for companies and individuals be scammed.

  1. Blockchain for Other Industries

Blockchain will start to see other uses outside of Bitcoin and the use of transactions between people. With the rise of a more globally connected world, this means that more and more people are getting their information online and want to share it privately and securely. The healthcare industry is starting to look towards blockchain more and more to more effectively and securely share a patient’s information to other doctors and hospitals.

The agricultural industry has started to use blockchain to better service their providers and have more transparent transactions within the industry. By utilizing blockchain, industry leaders can monitor the food that is being sold and where it’s coming from. These are only two industries that will benefit from the use of blockchain in the coming year and future.

  1. Increase in Tokens

Companies will continue to use tokens to incentivize consumers to use their products. The use of tokens has made it easier for customers to stay loyal to certain companies and as those companies increase the availability of tokens, their currents customers will stay and they will bring on more customers as well. These tokens can be utilized for purchases or even to be redeemed for special offers and things such as that.

Moreover, security tokens will become more readily available as well. These tokens will make investments more secure and bring in more investors to companies that are utilizing blockchain technology.