How Blockchain Will Become Mainstream in 2019?

For 2019, the markets started off in a positive direction but the experts have a strong opinion that due to blockchain technology global business markets can witness a big changeover in over two years.

Blockchain Adoption Stats

According to market reports, 90% of North American Banks and European banks are making the investment in blockchain development and by doing this investment banks could save around $8 to $12 billion annually.

Secondly, $1.7 Billion is spent by the financial service industry on the blockchain technology. Various companies are seeking re-assessment of their risk tolerance, and cryptocurrency investors are also looking for good opportunities in the field of blockchain software development.

No doubt, the blockchain is an emerging technology and most of the businesses are not aware of its new advancement. If you are one of those who wants to have the full knowledge of the technology, just keep on reading the information provided below.

Will 2019 be the year of Blockchains Adoption? This is the question you came here for? We’re here to give you a complete list of ideas and the analysis of blockchain trends for business in 2019.

Top Reasons Why the Blockchain will Become Mainstream in 2019

In today’s business scenario, there is a lot of hype around blockchain. Therefore, the first step is to identify the appropriate reasons that make business sense. Take a look at the reasons why the blockchain will become mainstream for businesses in 2019.

Adoption of Artificial Intelligence

Artificial Intelligence is all set with advancements being used in blockchain and amongst other areas of cybersecurity. Corporates are now ready to implement & use AI to improve customer experience and reduce costs in certain areas of their business operations. There are already several models of artificial intelligence used in the blockchain operations. One example is the United States, where the Department of Health and Human Services has started to use blockchain technology with AI (artificial intelligence) in its work operations. By doing this they are being able to get data and analytics just in a matter of minutes that is fast as compared to older systems.

Among other benefits of AI include machine learning algorithms that help analyze and categorize data faster than normal workers. This provides companies the ability to identify errors, patterns, and help create new systems.

Deployment of the Blockchain Technology

Blockchain technology creates transparency in financial transactions and is capable of simplifying the trade process for both buyers and sellers. The service sector is not left out, as most companies are also considering the use of blockchain technology. Many private & government organizations have been accepting blockchain-based payment systems and security tokens are going to be the biggest trend in 2019. This is the safest version of the online currencies for mainstream investors and it is hoped this will fill in the gap between online coin investment and traditional forms of money investment.

It is believed that the growing use of blockchain technology will help to unlock the full advantages of the distributed ledger systems. Aside from the money transaction & payment systems, blockchain development technology is seeing increasing use in the management of inventory and supply chain management. Many private businesses are already using the blockchain in several parts of their business operations that help their business to streamline many processes, which will ultimately lead to lower cost of business operations.

What Does the Future of Blockchain Technology Hold?

The answer is blockchain adoption will grow. The blockchain development technology has been used in many industries for food safety, shipping, voting etc. And big brands like Amazon and Walmarts are using this technology to streamline processes in different fields such as supply chain management and administration.

So, before we move forward to how Blockchain technology can help your business grow in the immediate future, just have a look at some interesting stats of the Blockchain industry.

According to the latest survey by Statista, it was expected that the global blockchain technology market would reach $2.3 billion by 2021. As per the reports shared by IBM, it suggests that nearly 65% of global banks will deploy the blockchain technology within the next 3 years and 17% of banks will use the full blockchain product.

Cyber attacks are common these days, it’s no surprise the blockchain technology will help increase security for personal identification. This might be related to shopping online where the e-retailer needs to safeguard the consumer’s identity for any personal information gathered. For instance, the startup brand Shoping has solved this issue by using blockchain technology. They will save the consumer’s purchase history but share it with the platforms the consumer chooses—instead of the widespread sharing of consumer’s personal data.

As the benefits become evident, there will be wider adoption of blockchain solutions of businesses and this will help make the technology more mainstream in 2019.

Blockchain Trends for Businesses in 2019

Use of blockchain technologies can improve business processes and significantly lower costs. It will also allow businesses to offer better service to customers. For example, financial institutions could use the blockchain technology to improve tasks such as payment transactions, settlements, and insurance. As we have entered the first quarter of 2019, it’s time to look forward to what’s in the store of blockchain for 2019. So, here is the list of 3 main trends of blockchain industry.

1. Privacy Improvements - Privacy is a major concern for businesses. With the new blockchain technology, information will be stored in blocks that can be further stored on blockchain and that cannot be controlled by a single person. It simply means that there are very less chances of failure and the technology can serve as a reliable space for a business transaction.

2.Transparency - In 2018, the first step towards solving this issue was introduced. This was the release of the “Lightning Network” on Bitcoin that enables the first users to route small payments to each other, and allow settling their balances on the Blockchain layer. In 2019 this technology is going to be more user-friendly for the users, and include fresh and intuitive interfaces. This will allow businesses to take small payments off the blockchain, without any major drawbacks!

3. BaaS (Blockchain as a Service) - When it comes to quality, an innovative idea must be looked upon before going ahead with your business. Coming to the innovation part, the Blockchain system makes it easier for concerned parties to find any issue as the system can lead them all the way to its point of origin. BAAS is an ideal technology for sectors where tracking the origination and other important details are necessary. BAAS helps businesses to test distributed ledger technology (DTL) without any risk of implementing it in-house and the capital costs.

Blockchain technology will soon become mainstream in the world business market, and it is going to be an inevitable part of the future finances in the global economy.

To Wrap It - So the blockchain development technology is surely going to rule in 2019 and will become mainstream for businesses and individuals. The corporates need to embrace the technology if they want to improve transparency standards in tracking and transferring funds. It is for all these reasons businesses need to trust through the blockchain technology.

If you are planning or wish to Hire Blockchain software developers, then get in touch with ValueCoders, a well-known name among the Blockchain Development Companies in India. Experience working them and find out how blockchain development services can assist you to increase your business productivity.

Here is the list of our blockchain development services and solutions

• Blockchain Wallet Development
• ICO Development
• Cryptocurrency Development
• Blockchain Banking Solutions
• Blockchain Mining Software
• Blockchain Exchange Apps