Blockchain in year 2020, some prominent trends to watch out

 

Actually, 2019 was big for blockchain and 2020 would bring new traits into the field. The main trends of 2020 for crypto world are expected to be the following:

AI and IoT adoption

More and more businesses are transitioning to AI with blockchain integration and the global spending of AI is growing at a fast pace. Moreover, multiple IoT companies have adopted blockchain technology for the inside processes.

Stablecoins adoption

It is expected that, even though stable coins are now in their initial phase, they are to dominate the crypto space.

BaaS Blockchain as  Service;

Or BaaS in short, is a new blockchain that is to be used by Amazon and Microsoft, among other startups and enterprises. Having such giants implement the service, the future of the area is being shaped at the moment and definitely setting up a new trend to look forward to.

National currency development

China planning to launch its own cryptocurrency in 18 month, Turkey is aiming to do the same by the end of 2020. Moreover, those countries that were banning cryptocurrency or taking a neutral stance are now legally defining crypto assets.

Hybrid blockchains

One of the main trends for 2020 is undoubtedly hybrid blockchain, when public solutions meet private ones. Having lots of advantages such as lower transaction costs or cyber attacks protection, it is no wonder that this is so looked forward to among blockchain enthusiasts.

Blockchain Trends for Industrial use:

The first industrial use of enterprise blockchain that’s actually live now at Walmart Canada and providing efficiencies/savings in its massive freight/inventory supply chain.
https://www.newswire.ca/news-releases/walmart-canada-and-dlt-labs-tm-launch-world-s-largest-full-production-blockchain-solution-for-industrial-application-857165201.html

Walmart, the largest company in the world by revenue, is globally renowned for its leadership in saving its customers money so they can have a better life.

This deep commitment has prompted it to be one the world’s leading investors in a wide range of innovations, particularly in using technology to increase efficiencies.

Now Walmart Canada (“Walmart”), in partnership with global blockchain leader DLT LabsTM (DLT), has made another monumental leap ahead that sets the stage for a wave of innovation in industry as one of the trends to watch out in the year 2020. Walmart and DLT have designed and taken into live production the first industrial use of enterprise blockchain.

It has been placed at the heart of Walmart’s massive supply chain and has become the standard in managing its freight deliveries nationally. Despite the enormous and sometimes controversial coverage of blockchain, almost all efforts to use the underlying technology to date have been either related to cryptocurrency, or in experiments (often called proof-of concepts).

These experiments do not share information with, or connect to, core operations and the massive, existing information technology systems that run operations. Now Walmart and DLT have taken off the training wheels and proven the power of blockchain in industry.

Walmart and DLT have built and launched the world’s first and biggest full production blockchain solution for industrial application. The product is a freight and payment platform which creates real-time secure channels between Walmart and the carriers of its more than 500,000 deliveries of inventory across Canada each year.

Shipment data is tracked real-time, a huge range of charges are reconciled, invoices are calculated and created automatically, and payments are expedited – all with verified secure information.

This represents a breakthrough in business process innovation applicable to any business process or industrial environment. It is the first tangible demonstration of how enterprise blockchain can dramatically improve operations and information management.

The product was piloted in a close working relationship among Walmart, DLT and Bison Transport, and is now live within Walmart’s supply chain, with all carriers to be active by February 1, 2020. Blockchain-based solutions are the answer.

Blockchain Forking

Since the IRS just released guidelines about blockchain forking, we’re going to see more forking take place and greater consumer awareness about what it actually is.
This will be part of a larger trend of crypto/blockchain becoming a more sophisticated industry with many more moving parts

Competitive

A lot of the small-time blockchain players will either fall by the wayside or merge/collaborate with other entities to stay in the game.

More Formalization

Not this coming year, but longer term we’ll start to see more formalization. More independent organizations that rate different companies (e.g. triple A ratings), both for cryptocurrency and blockchain companies.

 State and corporate cryptocurrencies;

Closing of crypto exchanges and services without a regulation license and delisting of tokens and projects in the ‘gray’ zone or those with warnings from the regulator.

Crypto purchases for cash.

As more prominent businesses,  companies etc now indicated acceptance of payment with cryptocurrency,  most cash transactions such as buying and selling as well as deposits will turn to crypto.

All fintech moves to Switzerland.

As a location, Switzerland offers outstanding advantages (proximity to education, research and innovation, relatively liberal labour market,entrepreneurial environment with business-friendly framework
conditions, high-quality life, etc.) and has successfully positioned itself
for fintech companies. The blockchain ecosystem in Zug is growing continuously.

The crypto exchange Bitfinex, for example, is planning to move to Switzerland. Digitalisation and the establishment of fintech companies in Switzerland will further strengthen the financial centre.

With prudent, business-friendly framework conditions for digital innovations,
Switzerland’s advantages as a location will further increase. This will also have a positive impact on employment in the banking sector.

The Fintech Hub Ranking indicates just how successful Switzerland has been in becoming a leading centre for global fintech in the area of blockchain: Zurich and
Geneva are ranked second and third.

In 2017, around 30 new fintech companies were established in Switzerland, making for a total of 220 to date. The average size of the companies also increased in 2017: both in terms of the number of full-time employees as well as capitalisation.
The trend of collaboration between fintech companies and banks is growing:

Start-ups offer an ideal platform for developing and swiftly implementing
new business ideas. The banks on the other hand have the necessary knowledge in terms of regulation and management of assets and data.

Due to their experience in these areas, they enjoy a high level of trust and have
expertise in customer acquisition.
Fruitful collaboration between fintech companies and banks makes it possible for both sides to mutually benefit
from their strengths.

African people are our top priority when we created a Swiss-level mobile personal finance app for everyone. Nowadays, people in Africa, Latin America, India, Russia and other places can not open a banking account in Europe and can not have savings in traditional stable currencies due to economic and political reasons.

Aximetria created a personal mobile finance
app which enables anyone and in any country to go around such restrictions
and have savings in stablecoins (digital assets) as well as traditional
global currencies.

– the next-gen mobile finance app for everyone and our announcement for
EURS support, making Aximetria users to have access to both most popular
stablecoins – EURS and GUSD. EURS remains the most steady stablecoin tied
to a Euro.

The Swiss, fully-regulated fintech company also announced last month that
it moved to 0% crypto environment, removing commission on all services,
including on exchange, cross-border remittances and savings (no hidden
fees!) and AxiDrop feature enabling to send 0% commission transfers to any
phone number anywhere.

Next month, we launch AxiCash feature enabling to have agents and receive cash in any location. According to the company’s
founding CEO Alexey Ermakov, this will help overcome the economic restrictions operating in different countries to make people better off.

Alexey Ermakov, Aximetria CEO: We want to be able to help people in regions with high inflation or limitations to be able to sell, buy and save in stablecoins which are tied to global traditional currencies, like the
Euro and Dollar.

They are good because they have a fixed rate and do not have significant price fluctuations. While they are devoid of the main drawback, which led to disappointment in cryptocurrencies – huge
volatility, that is, price volatility.
Stablecoins do not allow you to get rich overnight, but they retain all the advantages of cryptocurrency.

The exclusiveness of ownership, the cheapness of transfers and the ability
to open a quasi-currency account are all invaluable in 2019.

Africa is the leader in mobile banking due to their infrastructure. Digital
assets and blockchain are very welcome and useful in that respect in the
region. The fact remains that African countries have the highest percentage
of foreign currency holders in the world, and the money is not held in bank accounts, but in mobile accounts (over 12% of the continent’s population).
African people demonstrate a willingness to actively invest their hard-earned money in digital and crypto-currencies.

Aximetria, for example, is one of the blockchain projects that has a large
percentage of African users for its mobile banking service.

Great trends to watch out in 2020.

You are welcome to write your own opinion or any comments on this here.

READ MORE:

 

Blockchain to the rescue of globally unbanked

Bitcoin sets for $7,800 after daily biggest price gain in a month.

Bitfinex and stablecoin issuer- Tether, faces another lawsuit over Bitcoin market manipulation.

Stablecoins faces regulations, to b treated as money service business- FinCen

Crypto OTC traders can now hide their trade from human broker with an Al chatbot working for them

 

Credits: LisaBernstein, Katia Shabanova , GabrielleJasinski, Jonathan Swerdlow

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