People managed to build a brand new technology that is capable to reverse the centralization processes.
The Internet transformed how society communicates, blockchain will transform and commoditize how society agrees, trusts, and transacts.
What is The Fourth Industrial Revolution?
“The emergence of blockchain tech aligning with technology, economics, and geopolitics.
Will the Fourth Industrial Revolution move faster than preceding revolutions?
It sure will. All of the new technologies will be deployed on blockchain substrates. This revolution will move very quickly” says Andrew Keys in the article “19 Blockchain predictions for 2019”.
Is the token fever came to an end?
The token launches and ICOs of 2018 were experiments in fundraising and tokenomics, but these were just early use cases.
In the year that has just started, we will witness a further sophistication of a token economy, with more comprehensive business logic embedded into the token, which will lead to greater functionality.
What we nowadays see is a top of an ice cliff.
Regulation around the globe will start to catch up
Blockchain technology will not reach its full potential until we can systematically prevent fraud and protect consumers and investors in the cryptosphere – the same problems upon which regulators and policymakers are focused. Have you heard of the Brooklyn Project? It is a community of 1500 lawyers that actively collaborate on community-curated documents like “Consumer Token Framework” and has taken the lead in interfacing with governmental bodies in the US and Europe.
“We are taking this action now, because we, as a company and an industry, have a unique opportunity to restore trust between people and institutions. By acting responsibly today, we can help make sure we are collectively able to reap the benefits of this powerful technology tomorrow.” Joseph Lubin, Founder of Consensys and Ethereum Co-founder
Efficiency explosion in global banking
Global finance operates much less efficiently than most people would imagine. There is still an enormous paper trail and the digital tool that do exist offer a poor user experience.
“This year, banks and institutions will ramp up blockchain adoption in a big way, as they decrease settlement latency, enhance data management, unclog paper dependent workflows, optimize the KYC process and eliminate human errors. Blockchain will take a massive leap towards reducing counterparty risk and fraud, allowing companies to proactively manage risk rather than just reactively responding to risk”, estimates Keys.
From nice to have – welcome to need to have
Shoppers are going to need transparency in regards to where their food, clothes, and products come from. Today, the supply-chain process is opaque and slow.
Author: Dunja Funduk
Blockchain-tracked attestation of a product’s provenance and distribution. Walmart has token major strifes towards reinforcing supply chains with blockchain-based tracking and tracing.
Cloud storage will decentralize to combat increasing hacks and censorship
Do you remember Facebook Cambridge Analytica scandal? People are now paying more attention to issues regarding the storage of their personal information. Decentralized storage could be the solution. It’s the best way to avoid the pitfalls of centralized data silos.
Looks like it is time for a change and the blockchain revolution has just started.