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Top 5 Blockchain Trends for 2020

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The concept of embracing cryptocurrencies as a trustworthy way of payment is still scary for some countries. On the other hand, more than 20 countries are thinking about establishing a national cryptocurrency that can be exchanged to another using a proper rate, so people can use their crypto savings when they travel. Many banks around the world are trying to find a way to implement the blockchain technology. It’s expected that in at least five years, many industries will use blockchain for different types of transactions.

This technology will have better and brighter days in the next few years because the adoption will grow and people will be less skeptical about using Bitcoins.

These are a few trends that affect blockchain this year:

1. Many industries will adopt it

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This technology can be used for many other things instead of mining Bitcoins. For example, it’s been successfully implemented in voting or shipping. Medical sector and hospitals are using something blockchain-like to digitally preserve medical data and administrative documents. As we know, this network is protecting the blocks, making the transactions safe and fully protected. This technology can easily be adopted in so many professional fields because it’s transparency and the option of tracing every activity.

Another thing that the companies can learn from Bitcoins and their network is the Initial Coin Offering which is a form of Initial Public Offering in the world of cryptocurrencies. According to klamm.de, ICO can help you to easily overcome the monitoring processes that banks are providing over your transactions. Many young companies will be able to create and develop blockchain solutions, especially when they are at the very beginning. The good thing about it is that it’s inspiring and confidential, and also easy to embrace in almost every new or already established business.

2. The demand for blockchain experts will be high

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Many companies who are ready to accept and adopt this technology will open more jobs for those who are experts in this field. It’s expected that almost every company that will be using it, will need to hire at least one expert who will run the department, and also will be able to provide a proper mentorship to the whole team, so they won’t be afraid of the technology. Many software companies are using it to develop their apps. Also, many studies are showing that blockchain projects are growing very fast on the labor market, especially on freelance platforms.

So, is there anything better than this? Offering new job positions that will bring you great profit, and you can provide them a competitive salary for their job? If you have a chance, we recommend you not to avoid it and accept this technology, that will be very useful no matter what type of business you are running.

3. People will more likely accept stablecoins

img source: bitcoin.com

Bitcoin is maybe a safe place in the crypto world, but there are also other currencies, known as stablecoins that related to other crypto coins, fiat money, or they are independent enough that nothing affects their rates. This is an excellent year for them, because the coronavirus pandemics showed the need of increasing their values, but also that the world is too big for only one leading cryptocurrency.

As we know from the fiat monetary system, people mostly believe the American Dollar, EU’s Euro, British Pound, and Swiss Franc, and of course, the gold. Many cryptocurrencies are ignored by the people because they think only the Bitcoin is worth investing in. But, this is the year when they will finally realize that there is nothing bad in saving Ethereum, Litecoin, Bitcoin Cash, and many others. Also, we should avoid the unapproved and unknown crypto assets, that we are not sure how they work, especially if we find them through pop-up ads or spam emails. We all want to give a chance to the new things, but when it comes to finances, no matter if real or digital, we must be careful what we do.

4. Many technical problems can be resolved using blockchain

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If the website developers embrace this technology, especially the social media owners and providers, they will be able to protect their users and maintain a nice data control, avoiding scandals, scams, cybercriminal, and online violence too. Some platforms will try to implement blockchain in their code, so they can ensure the users will always have the best service, and no copy of the transferred data will ever be kept in their assets. On the other hand, it may help with linking the targeted content to the people who are more likely to be interested in what’s offering, ending with fewer hides and unfollows. It will be pretty complicated to do all of this, but some social media owner companies are ready to try and see how it goes.

5. A whole new life for the financial sector

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Traditional finances will still stay on the market, but people will be more comfortable using their digital savings and successfully operate with their crypto accounts. Many institutions are serious about embracing the blockchain together with the traditional banking system. Until the end of this year, many financial institutions will decide are they ready to use blockchain-based systems or not, and how much time they will need to do that. Also, this network can be used for launching new crypto coins, and the banks will have control over them.

People are afraid of the things that are new and unknown. Before embracing and adopting any new technology, they must be educated, even if that means they will need to go to courses or work under a mentorship for a short period.

Blockchain is showing us that everything is possible and every new technology needs to be embraced. Sadly, they are usually avoided, especially by adult employees, who are scared to learn something new. But, there is nothing scary in the things that make our job easier and more transparent. That’s why this year is especially good for the crypto market and every benefit that comes with it.

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