Evolution of Blockchain

by | Feb 4, 2020 | Evolution

How will blockchain ecosystem evolve over time?

This is the question to ask about this innovative technology, some say that it is the tool of the future!

The first to be interested in the development of blockchain are economists and mathematicians. Bitcoin will evolve towards a store of value like gold for example. This year in May there will be the “Halving”, the event which halves the remuneration of a minor. This happens automatically when an exact a number of blocks have been mined.

One project that could come to light, with a European dimension, is the possible creation of a digital euro.

The countries of the European Union as well as central banks already have this idea in mind. For the sole purpose of reducing costs and gaining enormous efficiency. The legal sector will take over because it will be necessary to establish a legal status for this digital currency.

The legal field will be constantly evolving in order to help the government. Issues of fraud remain a constant struggle. A phenomenon almost impossible to eradicate. That’s why, we will see increased surveillance of social networks.

In order to make the most of blockchain, the different sectors such as logistics, health, finance will have to work together.

The blockchain will certainly take several years to be a model of economy and efficiency for the transmission of information and transactions between public and private networks.

In the coming years, the activity of all industries will have evolved considerably thanks to Blockchain. Knowing that the market for all technological innovations is constantly increasing, so the evolution of the blockchain is not about to stop.

The technical skills associated with Blockchain will be in great demand by recruiters, therefore we should see the birth of new establishments dedicated to the training of any student who wishes to work in this ecosystem and thus make a contribution to the edifice.

The supply chain market offers many opportunities for growth in both developed and developing countries. In addition, all sectors could benefit from the growing demand to reduce treatment costs worldwide.

The current implementation of blockchain platforms like Hyperledger, Ethereum, Corda will certainly have to be updated at some point to stay competitive, increase security. This leaves room for newcomers and therefore increasingly fierce competition.

The question concerning “security tokens” will also appear and upset part of the system. This “token” can represent, digitally or otherwise, a tangible asset such as a financial security for example. But “security tokens” have significant advantages. Such as automating regulatory or contractual requirements, reducing operational and operating costs. Finally automating events affecting the life of securities.

However, if a token is a “security token” : be careful ! Because there is criteria to properly identify them!

A mass tokenization to improve exchanges is the vision that we can see for the next ten years. Because the possibilities are immense when you think about it.