Since the dawn of blockchain technology, there have been many use cases being discovered. From the benefits such as transparency and trust to the actual role of blockchain in keeping the supply chain of businesses transparent and free of manipulation, in this new edition of the blockchain crypto news we are talking about the future of this technology.
We know that the adoption of blockchain has been relatively slow. However, there are many analysts who believe that 2019 will be the year for mainstream adoption. The lack of implementation is definitely one of the challenges facing the industry right now.
If this is about to happen, blockchain will be likely most seen in the energy, automotive and finance industries. According to what we have seen so far, the application of blockchain in the automotive industry are great – and as IBM noted, 62% of the executive in this industry believe that blockchain is going to disrupt the industry in the next few years.
The finance industry is also ready for blockchain implementation. According to a Forbes article, the industry will be among the first to feel the heat of the blockchain revolution.
Last but not the least of all examples is blockchain in gaming – mainly seen through CryptoKitties which is a game that was built with little gaming infrastructure and through Ethereum’s smart contracts. As many critics later saw, CryptoKitties could be built on a centralized infrastructure and offer the same user experience.
In the end, while some people say that blockchain needs to grow even more, many would agree that the technology primarily relies on software innovation which usually moves a lot faster than hardware.
That said, we could definitely see big improvements in this technology as we step into the new year.
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“I would say payment and utility tokens are more or less over, sometimes they make sense.”Talking about stablecoins, he explained that their decentralized mechanism is what makes sure that they are legally considered to be payment tokens rather than securities:
“Stablecoins are a precondition to enable average companies to bring their equity onto the blockchain, because if they issue bonds or shares they want to do so against U.S. dollars, euros or Swiss francs, because those are the currencies they calculate in, not Bitcoin (BTC) or Ethereum (ETH).”Meisser also pointed out that the banks in Switzerland still don’t attempt to try crypto but local startups do use them as a way to avoid banking difficulties in the country.
Bitfury Enters Music Industry With Blockchain-Based Open Source Platform Launch
“The Surround platform will enable the entire music entertainment industry to streamline operations through secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems."The launch of this new service marks the expansion of Bitfury onto various aspects beyond mining. Within the ecosystem, this week also saw the company bringing off-chain payments through the Lightning Network (LN) to their first exchange environment thanks to a partnership with Poland's BTCBIT. As the CEO of Bitfury commented about the Surround project:
"The music entertainment industry has evolved into a complex, competitive, technology-driven environment that suffers from a severe lack of transparency.We want to champion artists and help incentivize the growth of the entire industry through the creation of this open, blockchain-based ecosystem."There are many blockchain entities which are tackling the music industry transparency for several years, with ideas such as blockchain-based streaming service being revealed in 2018.
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