Blockchain trends for 2020

by | Feb 4, 2020 | Trends

Blockchain alone is a strategic trend when it talks about technological development. You still have to know how to use it wisely!

The sectors such as e-commerce, logistics, data protection, real estate, finance will be the most active for the implementation of Blockchain technology.

By introducing Blockchain at the supply chain level, intermediaries are outside to simplify monitoring. At the same time, fraud and waste are limited. Thanks to transaction data which allow mutual agreement of the parties as the chain progresses. In a second step, the whole sector related to banking service reach exponential growth. For the simple reason that all banking transactions around the world carried out through the Blockchain as the speed of the process is incredible, associated with fees. unbeatable transaction.

Consequently, the prospects envisaged in terms of traceability are phenomenal, whether for sales, transport of raw materials, manufacture of a drug, history of spare parts.

Cryptocurrencies have changed the world of business with this new way of investing money.

This is a booming sector, while investors gain confidence in this new system. Foreign exchange platforms should therefore be able to offer reduced transaction costs. The creation of Stable coins represents the major solution to avoid volatility in cryptocurrencies.

Knowing that Bitcoin is the undisputed master in the matter, other players are trying to make their mark.

The success of Bitcoin is such that every year new cryptocurrencies are born. Updates on those already in place on the market will bring revival around this ecosystem.

If the required conditions are approved, we should see the launch this year 2020 of Libra currency. A cryptocurrency project created by Facebook. Each participant can have a seat in this foundation. The association’s project is ambitious because it would allow the development of a new currency and associated infrastructure. Thereby providing access to millions of people and ease of trade. But the vagueness apparently persists above all in the ability of the social media giant to guarantee protection of all the personal data of each user.

We will also be able to tackle the subject of interoperability.

This term describes the ability to share information across the network of all existing Blockchains. That is, a person who has their own blockchain will be able to interact with ecosystems.

Blockchain will be a significant added value for future business projects. We can really think of a democratization of the Blockchain ecosystem. One can imagine the creation of new algorithms that can thus increase the performance of block chains.

We realize the enthusiasm generated by an ever increasing demand and a questioning for those who discover the benefits that the Blockchain can bring.

2020 will surely be a new step towards an omnipresent Blockchain ecosystem that has not revealed its full potential.