Blockchain is nearing the tenth year in the market as the leading technology that stands behind Bitcoin. For us, it is time to celebrate the positive things that happened to it. In 2017, the rise of blockchain saw the democratization for cryptocurrencies.
If you are new to this, democratization can basically happen in many ways, from the number of people to the number of products and solutions that are using that technology to its business value or the level of disruption that it represents. Contrary to previous technology waves, blockchain technology is designed to empower people versus organizations. As such, the blockchain democratization is crucial to the success of the technology.
But how are things standing regarding this democratization?
Well, the best way to predict the future of blockchain is with what we already have, and that is:
Killer Apps – In 2018, the apps based on blockchain will definitely increase. So far, there have been a few technology platforms that were developing more stable and scalable blockchains. As these foundations mature, we will likely see more achievements in the use of blockchain for consumers.
Major Tech Devs – Developments and advancements in tech are on their way – all thanks to blockchain. In the next few months, the main stacks of Ethereum, Corda and Hyperledger will make blockchain easier to use and address the key challenge which is the scarcity of the talent (developers and architects).
Governments Driving Adoption – 2018 will probably hold adoption in many ways – mostly seen by governments and regulators. Most of them now understand the value of blockchain for them and their constituencies.
Corporations Becoming Major Players – Organizations are believed to be the main engines in translating the promises into real commercially viable solutions based on blockchain. They will play a massive role in the democratization of blockchain and will have to accept that the long-term role is to adopt blockchain in a number of ways.
Each of these points could help the growth of blockchain and open more jobs while creating bigger opportunities for the cryptocurrency in the future.
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