2019 for Blockchain — What To Look For?
2018 was like a rollercoaster ride for a lot of blockchain projects. At the beginning of 2018, the cryptomarket saw an unprecedented bull run where the prices of Bitcoin and other Altcoins were skyrocketed. But by the mid of 2018, the party was over and due to falling prices, unfavorable conditions and tough law and regulations, once again the market was witnessing an unpredictable bear run but this resulted in the wipeout of more than $725 billion from the market. Remember, the night is always darkest before the dawn.
“Cryptocurrencies have dropped in prices — not the TECHNOLOGY”
We are all hoping to have a great year ahead and for the love of blockchain, let’s take 2019 to the moon. Here are some of the blockchain business trends to look for this year.
1. Tokenization in Real Estate
Until now, the real estate market wasn’t accessible to small investors. On the other hand, the global real estate market is estimated at $217 trillion with a 25% contribution from commercial real-estate. But blockchain has now revolutionized the way buying and selling of real-estate works. Now property owners can issue blockchain-based tokens which will represent the share in a property. Investors can buy such tokens and become the partial owners of the property. At the same time, they can sell those tokens to interested buyers in a secondary online market.
This way by putting shares in real-estate on a Blockchain, it became much easier for everyone to invest and exchange ownership of a real-estate asset.
2. Combating data breaches and privacy leakage
2018 was a rough year for Facebook, the giant of social media platforms. From time to time it was criticized for leaking people’s private information and for breaching users’ trust. As a result of it, blockchain came to the rescue with the concept of decentralized identity where you control who has the access to your data and who doesn't.
While in 2018, most of the blockchain startups aimed for a separate mainnet or a different cryptocurrency, in 2019 it is predicted that this year blockchain’s true potential will be unveiled and social media Dapps with decentralized identity will reach a crescendo.
3. Banking on blockchain
Do you know that 9 out of 10 banks said that they are currently exploring the potential benefits of blockchain for their banks? At first, when blockchain’s genie came out, people were calling it a ‘bank-killer’ technology. Everyone thought that there won’t be need of 3rd party while processing payments between peer-to-peer or across the borders. But it has proven that the use of blockchain for banking depicts a new range of benefits. “If fully adopted, it will enable banks to process payments more quickly and more accurately while reducing transaction processing costs and the requirement for exceptions” — Accenture DACH
4. Privacy Improvements
Unlike expected, privacy is again a major challenge that almost every blockchain is facing. Even though it solves the issues of data breaches, yet transactions can be traced and some businesses can identify clients following a certain pattern when participants make a transaction. Therefore, the biggest concern is that in an open blockchain, Governments can still somehow be able track down any transaction and trace the sender and receiver. And you will be in hot water too if somehow the other party was in the hands of criminal in the past.
Therefore, 2019 for blockchain will be the year of permissioned blockchain projects. According to Growth Tribe “In a Permissioned Blockchain, where only select businesses have access, you don’t want your competitors to see the contents of the information you’re adding to the Blockchain.”
5. Buy the dip — buy it now
Even though the market has seen a major drop in the last quarter of 2018, optimists always see it as a good time to invest. Lots of people are looking forward to 2019 for blockchain, recovering from the unpredictability of 2018. For many investors, that’s the perfect time to invest some bucks in the ICOs or IEOs as the famous quote “Buy the dip — buy it now”. So, 2019 can be a great year for many ICOs too, at the same time for investors.
Futurepia will be going to IEO by the end of February, it will be the best time to start investing in their coin and start trading.
Anyways, Once again, we at Futurepia, wish you a very happy and prosperous New Year!