As the end of the year draws closer, discussing what the future holds for the crypto industry becomes increasingly relevant. In particular, how global financial and technological trends will affect the adoption of cryptocurrencies in the coming year.
Despite the critics, the number of industry experts and crypto enthusiasts who foresee a promising future for cryptocurrencies has been on the rise. Institutional investors are now paying more attention to crypto-related projects and products, and universities have even started to offer courses on cryptocurrency and blockchain technology.
Now, talks of how emerging technologies like artificial intelligence and the Internet of Things can influence crypto have emerged, with possibilities for new applications coming to the fore. Furthermore, a global trend toward a cashless society is set to have a real impact on how privacy and freedom are perceived. Could cryptocurrencies provide a much-needed solution as early as 2020?
Increased use of AI and the IoT
No matter the industry, experts are more than willing to proclaim that artificial intelligence is the next big thing in their industry. The ubiquity of datasets, not to mention machine learning and high-performance scalable computing, are truly propelling the world into an age of AI. Many even consider the technology to be a sure sign of the incoming fourth Industrial Revolution.
However, despite the fast rise of AI technology, few practical applications are being discovered at present. A report called “The State of AI 2019” shows that projects associating themselves with the AI buzzword receive up to 50% more funding. This overwhelming hype around AI has led to a scenario where real applications are outnumbered by projects that only claim to be AI-related.
The good news is that the crypto industry has various applications where AI can be used to make cryptocurrencies attractive to the mainstream public. For instance, efficiently optimizing energy consumption during…