What began as a paradigm shift in the world of fintech taking place over the past decade has reached global critical mass and is evolving into a generational tectonic shift that in 2020 will begin to impact almost everyone on the planet.
Some are calling it the 4th Industrial Revolution. It is a technological disruption that incorporates IoT and AI and enables the exchange of value and data in a mathematically immutable and trustless environment thereby eliminating middle-men and gatekeepers.
This new technology is the blockchain. Bitcoin is certainly a flagship in this armada of disruptive innovation but recent momentum is being driven by more advanced and more evolved blockchain protocols.
For the past few years pundits have been evangelizing the idea of “widespread adoption” of blockchain technology. Major enterprise and institutional players have been investing heavily in blockchain R&D and a robust global network of infrastructure has been built but far from being widespread, blockchain remains a niche technology.
Why 2020 will be different, how you can benefit, and why one smartphone app will be at the center of the massive shift.
Global Zeitgeist – Nation States And Central Banks
Probably the most striking example of state-sponsored interest in blockchain technology.
In October, President Xi Jinpeng gave a speech saying China needs to “seize the opportunities” presented by blockchain, in what appeared to be one of the first instances of a major world leader backing the tech. Xi said blockchain is an “important breakthrough in independent innovation of core technologies.”
“With President Xi’s backing blockchain, China has unequivocally said that the future foundation of technology is blockchain…” Jehan Chu, co-founder of Kenetic Capital, a trading and investment firm focused on digital assets, recently told CNBC.
France’s central bank will next year launch a call for projects to develop a digital currency, as concern grows…