Blockchain is a type of decentralized data structure that cannot be changed. The unique part about this structure is that it can be easily accessed and tracked over time with ease.
By now, you probably know about blockchain through reading about cryptocurrency. But it's so much more than that.
In this article, we'll go over the 6 top trends in blockchain that are predicted to go big during 2022.
And if you're interested to know more about blockchain and its trends, head on over to our site. We host blockchain for you to stream anytime, anywhere.
Table of Contents
- 6 Trends That Will Revolutionize Blockchain Industry
- How Blockchain Can Affect Your Business in The Nearest Future
- FAQs Block
6 Trends That Will Revolutionize Blockchain Industry
Trend #1 – Cryptocurrency Mining and The Environment
With Bitcoin mining becoming increasingly popular, there's no doubt that it's taking a toll on the environment. According to CNBC, over 35.95 million tons of greenhouse gasses are emitted yearly due to Bitcoin mining. And that number is expected to increase by 2022.
Hence, it comes off as no surprise that the newest blockchain trends are now more sustainable. Recent developments include the evolution of proof-of-stake blockchains. These include EOS and Cardano. What's unique about these blockchains is that they don't require mining. And transactions can be completed with no outstanding energy costs.
Trend #2 – Blockchain As-A-Service
Given how popular cryptocurrencies are, it's easy to forget that blockchain has other applications. But the deployment of blockchain-as-a-service is nothing new and is only expected to further develop in 2022. It's already being implemented at major businesses like Amazon, Walmart, and Starbucks.
But it's not just the big companies that will use the as-a-service model of blockchain. In 2022, it's expected that major companies like Amazon, Microsoft, and IBM will offer commercial blockchain services.
This means that smaller businesses won't need advanced technology or hefty investments. This will pave the way for global blockchain technologies in 2022. In other words, blockchain will become more accessible to every marketplace.
This will also give rise to another trend: making payments in cryptocurrency. Yes, people are already doing that. But right now, not a lot of places accept crypto. 2022 will see the smaller-scale implementation of cryptocurrency. This includes implementation in schools, universities, and restaurants.
Trend #3 – The Rise of Stablecoins
Anyone who has invested in crypto will know how unstable it is. And that factor is exactly what deters governments from legalizing and regulating cryptocurrencies. No country will go crypto if the value keeps fluctuating. But all of that is about to change with a new blockchain trend: stablecoins.
Stablecoins like USDCoin and Tether fix their values to fiat money (real-world paper currency). As such, while they do host the technological benefits of cryptocurrency, they're a lot more stable. This is not only good news for investors but for governments interested in regulating and officializing crypto. As such, it's safe to say that Stablecoins will be among the top blockchain trends in 2022.
Trend #4 – Blockchain-Based Vaccine Distribution
One of the major benefits of blockchain is its ability to track and control medical logistics. With the help of its transparency and security, blockchain can be used to deliver COVID vaccines worldwide.
But it doesn't stop there. In 2022, blockchain could be deployed to manage the delivery of other medicines and other important vaccines. However, this initiative has a long way to go, as the demand for vaccines and certain medicines needs to be forecasted. Additionally, the method is not entirely perfected yet.
Still, vaccine distribution is one of the many new trends in blockchain industry. And given enough funding and technological focus, it too will soar much like crypto and cloud computing.
Trend #5 – The Popularity of Non-Fungible Tokens (NFTs)
Non-Fungible Tokens (NFTs) are "one-of-a-kind" tokens in the world of cryptocurrency. A Bitcoin is fungible, that is, it is not unique and can be exchanged for another one. Fiat currency (traditional, real-world money) is also fungible. An NFT, however, can be anything like a digital painting or a tweet that has the digital equivalent to an "originality certificate".
And how are such collectible items implemented? Through blockchain. And the technology is gaining more and more popularity as we speak. Just in February of 2021, an NFT containing a Nyan Cat GIF sold for over $500,000. And Jack Dorsey, the founder of Twitter, sold the first tweet ever in the form of an NFT, which sold for over $2.5 million.
Now you can see why NFTs are some of the most important business blockchain trends. They have so much potential and so many investment opportunities.
Trend #6 – Blockchain in Politics and Social Activities
Due to the security and transparency of the blockchain, it may see implementations in social objectives and politics. It's one of the latest trends in blockchain industry. And one of the most major applications of this is in digital rights management. Since blockchains are extremely secure, they're great options for identity theft protection.
Not only that, but the blockchain will completely evolve the supply chain as well. If supply chain information can be stored in a blockchain, the entire management system will become much easier.
Furthermore, blockchain allows for complete transparency while also maintaining security. This will enable organizations and governments to gain the trust of the people. And transactions made towards any social cause will be 100% transparent.
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How Blockchain Can Affect Your Business in The Nearest Future
Blockchain has been making the headlines recently. And no, it's not about cryptocurrency this time. Numerous businesses across the world are implementing the blockchain structure. And the reasons why are clear.
A blockchain is a decentralized network that limits access to your data and keeps track of all changes and access. It works by exploiting the open nature of the internet and distributing its structure across many parties.
But isn't implementing a blockchain expensive? Not anytime soon. Companies like Google and IBM are offering more sustainable blockchain technologies. This means you spend less while getting the full benefit of blockchain-as-a-service.
And that's not all. In recent years, cloud computing has also become one of the biggest blockchain trends. Blockchain will dominate cloud computing and make data and IT more accessible to the public with a distributed database.
Even within the crypto context, blockchain is completely transforming the banking industry. Banks will see major development and possibly full digitization in the coming years. Institutions like the stock exchange and crowdfunding will also be transformed. Blockchain will provide more sustainable means for creators and entrepreneurs.
Why Will Blockchain Change Everything?
Blockchain is a decentralized data structure that is immutable – or in other words, unchangeable. This completely tips the scales when we talk about cyber security. Plus, if there is a fault or an error in the data, it can be easily backtracked and corrected.
This makes it the best choice for storing digital currency. But it's not just cryptocurrency where we see this implemented.
Blockchain databases are being used to store transactions, reports, files, and much more. Even something as simple as employee records can be stored safely and accessed quickly in a blockchain.
How To Invest in Upcoming Blockchain Trends In 2022?
Investing in blockchain isn't easy, as it requires a lot of market knowledge. Currently, the best way to invest in it is to invest in the technology directly.
Businesses can look towards implementing blockchain in their day-to-day processes. The initial and running costs will be very high. But future developments of blockchain-as-a-service will make it more publicly accessible.
How Do Learn More About the Newest Blockchain Trends?
Join online Facebook, WhatsApp, and Telegram groups that discuss current and upcoming trends in crypto. Participate in blockchain conferences. These will enlighten you about the newest happenings in the crypto world.
Blockchain is transforming the world as we know it. It's changing how we handle cash. And it's seeping into our databases and Information Technology. In a few years, blockchain will have taken over most of our processes without a doubt.
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