Blockchain technology is constantly evolving. It has new opportunities to facilitate the storage and transmission of data, as well as to increase its security level. It allows improving a number of technical tools of high-tech gadgets without increasing the cost of the ready-made, one-stop solutions to the moon, all while keeping to the price level of competing solutions offered by tech giants like Apple or Google.
Last year proved to be highly transformative for the entire industry as a more realistic and business-oriented approach was developed by the representatives of the major projects. The facade of hype was washed away by the cold reality of the need for making money. Client orientation seems to have taken hold as the clients themselves started putting forward demands before blockchains and raising questions about scalability, interoperability and cost-related issues. As a result, the technology had to evolve at a breakneck pace to cater to the demands of giants like Walmart, JPMorgan Chase and others.
Many companies are leveraging blockchain technology to simplify internal tasks. It allows companies in various industries to cut costs and increase revenues while providing smarter customer service. One of the latest announcements was Walmart’s decision to join the blockchain consortium Hyperledger. The project already has a number of large companies as members, including IBM, Intel and J.P. Morgan. According to Deloitte, 80% of business leaders believe the blockchain technology will be critical or important to their strategic priorities.
Big Changes Are Around The Corner
The way I see it, the emerging trends become evident after analyzing the events of 2019 and deriving some logical conclusions based on the realities of the economy and the demands placed before blockchain projects by the clients of mainstay industries, namely financial ones.
First and foremost, the token market is likely to be significantly reduced this year, and only the most…