GET IN TOUCH

DO YOU HAVE ANY QUESTIONS?

LET'S DISCUSS! BOOK A CONSULTATION WITH OUR SPECIALIST

qr-img

Scan the QR Code to add me on WeChat

Find me on WeChat

To give you the best possible experience, this site uses cookies. Using this site means you agree to our use of cookies. More information is available in the INN4SCIENCE LLC Privacy Policy. Learn More

I AGREE

Blockchain

Top-5 Blockchain Trends in 2019 to Watch for

Blockchain can be boldly called one of the most revolutionary and promising technologies for the past few years. In spite of blockchain being originally created in terms of cryptocurrency, it fits perfectly not only the financial industry but affects general technological trends. The technology is valuable for representatives of most business based on or requiring secure data exchange and transactions authenticity. Blockchain has made principles of transparency, decentralization, data security and integrity an attainable goal both for startups and major international corporations.

The technology potential for both commercial, governmental and social projects is hard to overestimate. And yet, 2018 blockchain trends were marked by a growing amount of challenges for the crypto industry. Last year has brought first regulations – tough limitations in a number of countries, risks of accounts suspension, enormous ICO scums, crypto attacks, and cryptocurrency market downfall.

So let’s take a look what is in the store of 2019 for Blockchain.

Blockchain Trends in 2019

1) Even Closer Blockchain-AI and Blockchain-IoT Connections

blockchain ai iot

Artificial Intelligence and Internet of Things were top budding blockchain trends 2018. The number of startups in this direction keeps growing along with investors’ interest. So there’s every chance for this tendency to increase.

AI draws on big data to perform correctly which makes its development a quite costly and resource-intensive. The issues and technological tasks that AI experiences led to the fact that only huge corporations were able to promote the industry and to implement such solutions for ordinary users. Blockchain can make a really significant difference here. For instance, the technology can improve interaction between data providers and AI development companies by letting individuals sell their data directly to concerned companies through some kind of auction or exchange.

In terms of IoT, there are major risks related to secure authentication and connections of devices between each other and the main server. There were cases when hackers disabled electric vehicles remotely and hacked implanted cardiac devices. Technical features of IoT assume a reliable and safe network to tie physical objects and reconcile their data.

And this is exactly where blockchain has a resolution to offer. Decentralized and autonomous nature of the technology has the potential to stabilize sophisticated and susceptible IoT systems along with protecting them from cyber attacks.

2) Security Tokens

security tokens blockchain

As mentioned above, 2018 was not a good time for ICO projects which operated with utility tokens distribution. About a half of all projects on the market appeared to be scams. Utility tokens are not considerable enough for institutional investors. Furthermore, ICO isn’t regulated and is considered as ill-gotten gains. All these factors affected the market and caused a substantial slowdown.

So now it’s time for security tokens to come in. Security tokens are regulated as company shares which redefines the raising money process and protects investors’ rights. What’s more, security tokens are used in tokenizing physical assets as real-estate, piece of arts and so forth. So we’ll definitely meet a shift in blockchain investment trends from Initial Coin Offering to Security Token Offering.

3) Blockchain-as-a-Service

blockchain as a service trend

Another emerging blockchain trend is BaaS – a cloud-based service allowing users to create and test their own blockchain solutions e.g. smart contracts or applications. It provides the opportunity of establishing blockchain without dealing with its complex infrastructure or investing great amounts of money in such development.

The technological progress of recent years led to the arrival of new programming languages enabling easy-multithreading solutions. Moreover, a new blockchain development trend is the move towards microservice architecture focused on event-driven and decentralized solutions. So, the tendency is obvious – we are heading to SaaS and BaaS solutions.

There are already a couple of BaaS solutions performing provided by such companies as Amazon, Microsoft, Oracle, HP, and IBM. And for sure, we’ll see this blockchain affecting technological trend growing.

4) Technology Progress: New Integrations, Mixes, and Connections

blockchain technology progress

Today, even the toughest critics should admit that blockchain is here to stay. And the fact it makes significant strides from a technological perspective by constant upgrading and pushing new boundaries. The list of 2018 blockchain trends included the end of crypto-hype. Now, when only mature players are left in the industry we’ll witness a pronounced move from extensive development of plain projects to the intensive formulation of new models and solutions.

The first thing to mention is hybrid blockchains. Hybrid blockchain combines best principles and functions of both private and public blockchains. This type of blockchain even more flexible and suitable for various businesses as it provides a wider range of solutions and features. For instance, governmental projects often require data security, transparency, integrity, and decentralized decision-making along with different access levels and user roles.

One more technology improvement to look out for is bridging crypto and fiat worlds through digital links. This is one of the most relevant blockchain trends in supply chain, assets management, trading, storage as well as land-registry and voting.

Want to know about Blockchain development?

“Read Also: How to Create a Blockchain-based Voting System

Want to know about Blockchain development?

“Read Also: How to Create a Blockchain-based Voting System

Another innovation worth monitoring in 2019 is interoperability between diverse blockchains. As time goes, more blockchain networks appear in the market. They differ in consensuses, transaction speed and capacity. Blockchain interoperability intends to enhance data sharing and make separate blockchains more usable on a day-to-day basis through cross-chain technologies.

5) Governmental regulation

blockchain regulation

The implementation of blockchain technology is getting wider around industries and countries. No wonder, it attracts more attention from lawmakers and regulators. The fact that from law perspective cryptocurrency is classed as property (at least in the USA) only increases this interest.

When a technology starts to raise huge funds and provides the opportunity to commit an offence and avoid taxes, governments can’t leave it unregulated. But this does not necessarily mean this news are bad. Such serious approach reflects no more than market maturing and this blockchain trend continues to evolve.

Instead of Conclusion

We’re still in the early days of blockchain as a technology, and so we’re yet to see its full impact. Still, it’s already showing potential across a range of industries and so the real question is what will happen when blockchain technology starts to mature.

In summary, top blockchain trends 2019 mentioned above are surely a positive sign for the industry. Many industries, including AI and IoT, will continue to require blockchain-based solutions and consolidate the cooperation. Besides, we are to see greater regulation along with fast-growing technology development, new breakthroughs, and achievements.

DO YOU HAVE ANY QUESTIONS?

LET'S DISCUSS! BOOK A CONSULTATION WITH OUR SPECIALIST


was this article helpful?

(No Ratings Yet)

Add Comment

Leave a Reply

0 COMMENTS