In 2022, blockchain technology will continue to rise in popularity as more and more people learn about the benefits of decentralized applications. One report shows that by 2021, there will be a total of 54 million active users for blockchain-based social networks alone.
With this kind of growth expected over the next few years, it’s safe to say that crypto traders will want to pay attention to what’s happening with blockchains. If you’re not sure where to start, though, don’t worry. If you’re wondering what the five biggest blockchain trends are going to be in 2022 — we’ve got you covered!
Green blockchain initiatives
The idea that blockchain might be environmentally unfriendly has caused some controversy in the past. However, it turns out that there are ways we could greenify this technology and make it more sustainable!
To summarize, there are a few ways to go about this. One could carbon offset, and many people consider patching up wounds when the problem should never have occurred in the first place. Another option would be to move onto less energy-intensive models of blockchain technology like those that rely on “proof-of-stake” algorithms rather than “ proof-of-work.”
Ethereum is planning to move away from its current PoW model and into one that uses Positional Funding in 2022. In addition, Cathy Wood, CEO of the tech-focused hedge fund Ark Invest, has proposed an alternative approach for achieving greater energy efficiency while also reducing our carbon footprint through renewable investments, which will lead us down this greener path!
NFT expanding beyond online art
NFTs were the big news in the blockchain during 2021. Artwork such as Beeple’s The First 5000 Days created plenty of headlines, placing NFT tokens on blockchains firmly into public consciousnesses and taking hold for music artists including Kings Of Leon, Shawn Mendes & Grimes to release tracks formatted this way too!
The first time I heard about this, my reaction was a publicity stunt. But then they sold bottles of 46-year old Glenfiddich whisky alongside NFTs for $100k, and now some people want to buy these things!
The idea of owning your cryptocurrency is slowly becoming more popular in the gaming world. Axie Infinity, for example, lets you “mint” NFT creatures to send into battle and currently has around 300k concurrent players (Fortnite compared). This year, Dolce & Gabbana released clothing items with their very own cryptocurrencies. At the same time, Nike also did so shortly after that — all examples showcasing how these new channels could be used creatively moving forward.
Worldwide crypto adoption
In 2022, we’ll see several other countries follow suit and start adopting Bitcoin as legal tender. It means that it could be accepted across all 50 states in America by the end of next year! 2021 was a historic moment for El Salvador: just last month, they became among the few nations currently using a cryptocurrency-based payments system called Bitcoin, which many people feel will only grow exponentially from here on out, so take note while planning before someone else does first.
BitMEX CEO Alexander Hoptner says that at least five developing countries will accept Bitcoin to drive global inflation and growing remittance fees from financial “middlemen” organizations used for sending money home overseas by the end of the following year workers.
IoT integration
Blockchain is an excellent solution for the IoT because it enables machine interactions and transactions. The blockchain ledgers can potentially help solve many problems within security, scalability, and micropayments between networks of machines!
5G networks are finally here to provide excellent connectivity between all manner of smart, networked equipment and appliances. The rollout will undoubtedly lead us down the road for innovation in this field which is likely driven by blockchain transactions, with 5g coming soon enough!
vaccine manufacturing
It’s now clear that tackling the Covid-19 global pandemic will continue to be a priority throughout 2022 and for many of this year’s top tech trends. Blockchain technology has several important potential use cases in vaccine tracking, distribution & shipment authenticity proven.
We can ensure vaccinations arrive at their intended locations without fear of being fake or tampered with along the way while also tracing where they go when delivered once there — all thanks to trusted crypto-ID cards on file!
With the help of IBM, healthcare authorities across Europe can track vaccine storage more easily. In addition, the blockchain-based system allows all parties involved in providing vaccines for sale or distribution to get on one page with their data and information about what they have available so that coordination between them becomes more accessible than ever before.
In 2021, a breakthrough came about through the unprecedented response to this pandemic. In addition, the ability for blockchain technology will likely enable more use cases in manufacturing distribution and management of vaccinations by 2022!
As blockchain-based social networks become increasingly popular, crypto traders need to stay up-to-date on what’s happening with blockchains so they can make informed decisions when investing in this new market. To help you keep updated, we upload content on crypto news, updates, and everything happening in the digital financial world.
