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Market Oracle FREE Newsletter

Stock Market Trend Forecast March to September 2019

If You are Interested in Blockchain and Crypto; Here Are 4 Developing Trends to Watch in 2019

Currencies / BlockChain Dec 21, 2018 - 05:31 PM GMT

By: Boris_Dzhingarov

Currencies Blockchain technology and its cryptocurrency applications have gotten into the consciousness of the mainstream technology, financial, and economic communities. The decentralized nature of Blockchain technology has opened an interesting world of possibilities on the democratization of operations, systems, and processes. Cryptocurrency, the most popular application of Blockchain technology has opened the proverbial Pandora’s Box on the possibility of money that exists outside the meddlesomeness of governments and traditional financial institutions.

2018 has been an interesting year for Blockchain and cryptocurrencies. For one, the cryptocurrency market has suffered huge losses that saw the price of Bitcoin dropping more than 70% to $3500 and the market capitalization of the cryptocurrency industry has crashed from around $750 billion to about $110 billion. Many people are making increasingly vocal predictions about where they think the Blockchain and cryptocurrencies are headed in 2019. This piece is not meant to provide you with predictions for 2019; rather, it is written to intimate you with developing trends so that you can take strategic positions.

  1. There’s more to Blockchain than cryptocurrencies

Stakeholders in the Blockchain industry are making a concerted effort to end the long collocation with cryptocurrency to ensure that people understand the difference between Blockchain and cryptocurrencies. You can expect to see a concerted effort to push other applications of Blockchainsuch as smart contracts and tokenization into the limelight.

Organizations such as the Ethereum Enterprise Alliance, Blockchain Alliance, and the Hyperledger project are on the forefront of highlighting and promoting the use cases of Blockchain beyond cryptocurrencies. Smart investors may want to start looking beyond cryptocurrencies into startups that are leveraging Blockchain to unleash new levels of disruption in different industries.

  1. Cryptocurrency exchanges will come under increased scrutiny

Cryptocurrency exchanges function like stock exchanges but they inherently different and they are largely unregulated in the ways that stock exchanges are.  2019 could potentially be the year that regulators pay more attention to the activities of cryptocurrency exchanges. Regulators are already clamping down on ICOs; many ICO founders, crypto influencers, and advisors are being investigated for their roles in what turned out to be scam ICOs. Interestingly, many ICO scams were perpetrated through crypto exchanges.

The increased regulation will be ultimately good for the market and all but the very best cryptocurrency exchanges will remain when regulation catches up with cryptocurrency innovation. 2019 might also be the year that decentralized exchanges will break into limelight as people rely on truly peer-to-peer facilitation of their cryptocurrency transactions.

  1. There will be more use of Blockchain and crypto in gaming

Many altcoins are built on nothing more than a beautiful landing page, well written whitepapers, and a good dose of hype. However, the gaming industry might be able to find better intrinsic use for crypto tokens by ascribing value to them within a gaming ecosystem. Like how tokens are used to pay for rides in Disneyland, gamers can exchange fiat currencies for tokens, and the tokens can be used to participate in games, buy gear, upgrade skins and other merchandise.

Video gaming services might also unlock new levels of engagement if the virtual tokens can be exchanged for fiat or if the tokens can be used to buy stuff in the same way that gift cards work.

  1. Government agencies will start exploring the use of Blockchain technology

Beyond financial services, Blockchain technology is poised to become an integral part of government processes and organizations. For one, Blockchain technology can improve inter-agency data management to make government processes more streamlined, faster, and efficient. Decentralized Autonomous Organizations (DAOs) built on Blockchain technology can eliminate some of the bottlenecks and bureaucracy in the decision-making process of government agencies.

Of course, it is overly ambitious to think that government agencies will ditch legacy technologies for Blockchain within the next 12 months; nonetheless, we can expect to start seeing conversations happening around how Blockchain technology could make a difference in governance.

By Boris Dzhingarov

© 2018 Copyright Boris Dzhingarov - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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