Future Of Blockchain: How Will It Revolutionize The World In 2022?
In recent years,?Blockchain technology?made significant strides in its development and widespread adoption. And with the pandemic accelerating remote work, enterprises are showing more interest in digital assets and digitalization.
According to a recent study, more than 70% of executives stated that they expect digital assets to become a robust alternative to fiat currencies in the next 10 years.
Currently, we know that Blockchain is a unique technology that powers various cryptocurrencies like Bitcoin & Ethereum. However, this is not the only application of Blockchain technology. There is more to it than meets the eye.
But, the thing is, most people or organizations don’t realize how blockchain can actually help them.
So, let us see how the?future of blockchain technology?will revolutionize the world in 2022.
3 Exciting Ways Blockchain will Impact the Future in 2022
1.?Blazing-fast Transactions
One of the?biggest benefits of blockchain technology?is its secured and decentralized nature. This makes it incredibly difficult for nefarious parties or hackers to tamper with transactions. How is this made possible?
Blockchain technology comes with an array of features like:
Therefore, blockchain-verified data leads to faster transactions without any compromise in security. According to a leading study, almost 66% of banks are expected to adopt blockchain solutions in production in the next few years.
One of the?best predictions of the future of blockchain?in finance is that it will bring an opportunity to process transactions round the clock. This means transactions can be securely processed 24/7 with high-level security.
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2.?The Non-Fungible Tokens
Although cryptocurrencies are one of the most widely-known?use cases of blockchain, another exciting & emerging use case of blockchain technology is NFT or the Non-Fungible Token.
To put it simply – Instead of selling or buying physical assets, NFTs enable you to buy & sell digital assets that represent real-world items.
The best part about NFTs is that they are unique and cannot be easily swapped or replaced which means:
“NFTs can be only purchased, traded, sold or given away by the assets original creator/owner.”
Non-fungible tokens are already giving rise to a whole new way of owning digital collectables that range from unique accessories, rare digital artworks, one-of-a-kind sneakers and many other items.
Just look at these stats to get a glimpse of the burgeoning NFT market:
So, as you can see the NFTs are here to stay and will continue to grow in the days to come.
3.?Wider Adoption of Cryptocurrencies
Crypto currency is a popular financial asset that has gained worldwide adoption in recent times.
Although the most popular cryptocurrencies tend to be Bitcoin and Ethereum, there are many lesser-known cryptocurrencies likePolkadot, Chainlink and Dogecoin that are being welcomed by retail investors and common people as a hedge against inflation.
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