The blockchain fever clearly hasn’t been cooling down during the past few years. With the crypto market being extremely volatile and ongoing technological innovations, it’s hard to predict how fast this industry will grow. In order to not fall behind, let’s go through the top blockchain trends you cannot afford to miss this year:
Technology disruption across several industries
A few years back, not many would have imagined the revolution blockchain brought to categories like manufacturing or even healthcare. Finance was the first sector to get transformation by changing banking and payment activities, together with advanced security and transparency.
Other industries have also recognized the importance of blockchain recently:
- Retail: tracking goods movement within the supply chain supports better inventory management and reduces stockouts. Blockchain also allows transparency by tracing the source of high-value items and transaction records, thus minimizing fraud risks.
- Education: storing authenticated academic records to avoid qualifications or documents fabrication.
- Healthcare: at first, blockchain technology stored patients’ medical records. Then in the past year, this technology contributed enormously to efficient vaccine distribution and pharmaceuticals supply chain tracking.
Metaverse is the future of blockchain
Centralized and decentralized metaverses caught the attention of numerous giants like Facebook, Nike, and Microsoft.
Facebook’s transformation into “Meta” and their $10.4 billion investment (considered only “the start”) aim to achieve various goals:
- Attracting new customers
- Boosting engagement
- Reduce revenue dependence on advertising
Meanwhile, Microsoft seems to focus more on productivity of workers during pandemic times with holographic experiences innovations.
People even witness top brands like Gucci, Dolce & Gabbana, and Vogue taking preparation steps with NFTs. Therefore, it’s likely won’t take too long before other companies have to take the pace.
NFT applications expanding
NFTs, or non-fungible tokens have been increasingly popular because of their unique feature. They are no longer limited to just artworks and collectibles. 2021 has been an explosive year for GameFi and NFTs altogether. Axie Infinity is the hottest name in the gaming industry, considering the hype it created which led to the birth of thousands of other projects.
More and more uses cases of NFT have been introduced, limited only by imaginations. Recently, it’s no longer a surprise for NFT ownership related to music, real estate, fashion items, in eCommerce, etc.
Ecological approaches to blockchain
Blockchain’s energy consumption issue has raised a lot of concern. This is the reason behind China’s mining ban and Tesla’s decision to stop accepting Bitcoin as payment. Climate controversy drove the rise of greener cryptocurrencies initiatives other than carbon offsetting. These include the green currency Cardano (ADA), movement from proof-of-work to proof-of-stake, renewable energy, etc.
The crypto community is actively searching for solutions with less environmental impact and might even refuse to participate in potentially harmful systems. Therefore, businesses and projects should take eco-friendly blockchain trends into consideration before developing their own chain.
Education is extremely important in an ever-changing industry like crypto. So be sure to follow our blog and keep up to date with latest developments. If you are taking the first steps into the market and need a company to bring your ideas to life, look no further. Contact us for a tailored and innovative solution.
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