Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: ataraxiaceleste on September 13, 2020, 02:19:00 AM
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I very well understand that 5 -10 years in the blockchain world can be a very longtime where lots of changes may happen. However, I think it is a sufficient amount of time for enough for any major technological adoption to happen. It is estimated that the IoT market will have a market size that of $1,436 Billion by the year 2027, that would mean lots of devices connected to the internet.
Lots of connected devices would also mean potential hacks and security breaches. Deploying blockchain to monitor these devices would be the only practical solution. Blockchains such as Concordium can help used the inbuilt ID verification systems to enable seamless interaction of humans and IoT connected devices or even between different devices, legal regulation is another hassle that can be tackled by a blockchain like this.
Number of blockchain and crypto users would have increased by a large number, that would also mean more scrutiny, so we can expect that regulation will be the only way for blockchain projects to stay relevant in the space. It would also mean that users have access to a large choice of Blockchains that would have matured over the many years.
A lot more people being being considered "digitally finance literate". Hence, the entry to barrier will not be too much. We will be closer to hyper bitcoinization. Global Debt will be at an all time high and we may see another cycle of economic collapse.
We will all have alternative means of financial freedom Blockchain technology in itself would have evolved so much. I expect a large number of projects to have moved to advanced security algorithms by then. It will be interesting to see how the tech evolves.
IoT homes, self driving cars, decentralized companies and decentralized autonomous organizations bigger than corporations will be fun to watch and participate in.
I know I missed many more things, but what is your take on how the future of blockchain might look like?