The Biggest Cryptocurrency And Blockchain Trends In 2020

By Cryptohopper on The Capital

Centrally Backed Digital Currencies (CBDC)

Today, the crypto market consists of more than 5000 currencies. These digital currencies enable instant transactions between any two parties across the globe with almost negligible transaction costs. This major advantage has led central banks and governments across the world to explore a regulated Centrally Backed Digital Currencies (CBDC).

Decentralized Finance (DeFi)

Decentralized Finance, also known as DeFi, is one of the top emerging trends of 2020. DeFi consists of decentralized applications, smart contracts, and protocols in the financial ecosystem. It is a decentralized alternative to each kind of financial services including loans, savings, banking, etc. DeFi includes a range of decentralized apps (dApps) from peer to peer payments, stablecoins, open banking, debt, management of digital assets, insurance contracts, and more.

Asset Tokenization

Blockchain technology is the instrument that has converted the concept of asset tokenization into a reality. From art or real estate buildings to commodities and financial instruments, all kinds of securities can be converted into digital tokens.

Mainstream Adoption of Cryptocurrencies

In the past two years, traditional financial instruments like futures and derivatives have been incorporated in the cryptocurrency industry. The industry is gaining attention from institutional investors who are now drawing their attention to crypto investments.

Challenges For Blockchain and Cryptocurrency Industry

As people across the globe are getting familiar with the crypto and blockchain industry, we will likely see the inclusion of retail traders, institutional investors, venture capital, large firms, and corporations in this space. However, to have progressive growth at a global scale, the industry needs to overcome ongoing roadblocks.

Onward and upward

Blockchain has already started revolutionizing industries with its decentralized capacities. Public and permissioned blockchains are currently in development for domains ranging from enterprise to energy. Moreover, digital currencies like utility tokens and security tokens will play a vital role in optimizing the usage of dApps.



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