What 2022 Has in it for Blockchain and Should Investors Be Enthralled?
When Satoshi Nakamoto shared Bitcoin’s white paper, no one imagined that by 2021, the concept of paperless money would break the ground.
Blockchain Technology has unleashed a new wave of innovation and growth. Complete data security, decentralization, and online freedom drove this concept.
We’re seeing NFTs tossing up to new milestones, Metaverse and Web3 attracting big firms, Defi meeting market maturity, and top-tier cryptocurrencies reaching their all-time high — is it just us, or can you also see the future?
All this soaring and maturities stemmed from the unbelievably active participation of investors worldwide. So, without further ado, let’s dig into what 2022 has in it for blockchain and should the investors be enthralled.
Top Blockchain Trends Pushing its Way into the System
Crypto saw some backlash as experts thought it was something with minimal scope of operation in 2009. Nevertheless, to their surprise, when experts started delving into the concept, blockchain had an extremely intimidating potential — an unprecedented potential that is likely to revolutionize the whole ecosystem we live and work in today!
Today, blockchain is making strides in a wide range of industries. From industrial finance, banking, and education to healthcare and e-gaming — You name it! So, what more do we see coming?
Let’s drop the talk and dive into the top three blockchain trends in 2022:
The Rise of Non-Fungible Tokens
Non-Fungible Token, known as NFTs, has undoubtedly been the most significant investment trend of 2021 — and they don’t seem to slow down. Let us define the power that NFTs gave to laypeople, and you tell us, do you see it going anywhere anytime soon?
NFTs have always worked like a magic wand that wouldn’t give three wishes — instead gives you many! It does so by bestowing the ownership rights to asset holders using Blockchain technology to confirm the user’s rights to that particular physical/ virtual thing. Thus, allowing you to grab a share of exclusive real-world assets using digital collectibles representing real-world items. Interesting, no?
While you can’t exchange NFTs like crypto, it is likely to witness diversification and expansion as they can be anything you can think of! The use of NFTs in product promotion, audience engagement, and e-gaming is like to surge.
Expansion of Blockchain as a Service
Experts already hypothesized that blockchain is likely to expand as a service — and it has already begun! By the first quarter of 2022, many firms and platforms started offering BaaS services. Undoubtedly, it draws its inspiration from Software as a Service (SaaS); however, it offers extraordinary perks including, but not limited to:
1. Reduced cost of investment
2. Enhanced security and transparency standards
3. Fewer complexities compared to SaaS
4. No requirement to code your network elements
5. Ensures complete decentralization of power
Today, top-tier tech giants, including Amazon and IBM, offer BaaS services using Corda, Ethereum, and Hyperledger. Nevertheless, the scope of blockchain as a Service is beyond just large-scale techs. Soon enough, SMEs will also enter the race, bringing blockchain to mainstream business, therefore, diversifying its use cases.
Blockchain and the Go-Green Notion
While we see the planet collapsing with each passing day, blockchain technology is the only option at hand to support the go-green notion — not because anyone wants it, but because it must be. Although Elon Musk dropped the use of Bitcoin for Tesla car purchases because of high energy release and electricity consumption, it shifted the focus to carbon footprint reduction.
Elon Musk specifically identified the adverse impact of mining which made experts look for ways to ensure energy-efficient mining tools. In addition, carbon offsets, switch from proof-of-work to proof-of-stake, and many more notions support blockchain sustainability.
Conclusion
Despite being a blessing in disguise, the world we live in today exposes us to an unbelievable number of growth opportunities. In 2021, we saw the success of Web3, Metaverse, Stablecoins, NFTs, and cryptocurrencies. At the beginning of 2022, we saw these trends making their way into financial, healthcare, and many more industrial spaces.
Blockchain supports all these new-age concepts, thus, making us expect that the future belongs to these decentralized resources — and this is the high time to invest in Coin development, Defi development, Web3 development, AI, and many more new-era solutions. Flourish your business benchmarking the future and the future only!
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