Blockchain Development 2019: What to expect?

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Business analysis

After the 2018 summary, we’re all set to present some Blockchain technology and business predictions for the upcoming year. What is to be expected from 2019?

Blockchain entering a new phase

Last year was like the teenage years for Blockchain technology. The difficult changes in the market and legal landscape made the investors unsure about the fate of cryptocurrencies and blockchain technology. Early adopters were probing the ground for accurate appliances and found a number of promising niches.

2019 will be more peaceful as we know more about leveraging Blockchain, and the law is more predictable now. Blockchain has matured, and you can actually use proven solutions and introduce them in your business.

But it does not mean stagnation: there are innovations being born all the time, just to mention MediBloc, Cardstack and CEEK projects.

Ethereum competitors growing stronger

Smart Contracts have the wonderful potential to disrupt business. Ethereum was the first to utilizes this strategy, though a number of new solutions attempt to steal its crowd. There’s big potential in this niche, and it will be heavily explored by projects like EOS, Caspian, Qtum, TRON, Aelf and Veridium.

Private and public sector adopting Blockchain for safety

Safety is one of the most important features of Blockchain technology. At 4soft, we’ve noticed a number of queries from potential clients interested in leveraging this particular aspect of Blockchain, even when their projects didn’t necessary require a decentralized ledger.

In most cases, it’s more useful for the organisations in the public sector, where you have to connect a number of independent vendors that cannot be fully trusted. And in practice, this sector is catching up surprisingly fast, with a number of successful public blockchain appliances in the previous year.

Blockchain predictions for the next year

While the crypto market is still unsure about the future of cryptocurrencies and the prediction range from “moon” to zero, we can expect the business to settle with distributed ledger technology.

The technology is useful in very particular situations – and now that we know it, we can leverage its strengths. 2019 will see the distributed ledger as a more casual choice for safe transactions, not a innovative breakthrough invention. It means that blockchain is ready to penetrate and change the financial markets.

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