Futures in Exchange—Where Blockchain and Crypto are Headed
We have seen the economy move toward a digital future. From money transfer to investments, we are going paperless. And, we have seen cryptocurrency take the stage with new coins trying their muscle against market crashes and booms. While market crashes seem to signal instability in cryptocurrency, the technology that makes it tick—blockchain—remains a world of incredible innovation and possibility.
Industries are already looking into blockchain for applications in gaming, finance, energy, and artificial intelligence. And, those like ETC Labs and Andreessen Horowitz are infusing the movement toward blockchain with exciting projects, "crypto schools," and an over $300 million fund. The pace of technological growth is quickening, making breakthroughs with this technology less and less a factor of time.
Three Directions for Blockchain Advancement
Blockchain is poised for increasingly robust applications—and, with it, cryptocurrency takes its perch before serious flight. I have three major predictions for the future for blockchain and crypto.
1. Games, we can pay.
The possibility of a new currency is no surprise to gamers who have been playing with new currencies through simulation for years. For them, crypto and blockchain will be seen as a natural outcome of something a long time coming. Since the gaming scene already appeals to those with a technological bent, games will be a new playground for blockchain possibilities.
Fortnite is already looking into it for its wildly popular game. And, later this year, Sony will launch a blockchain-inspired video game for PS4. We will continue to see games take developments in blockchain on their march toward a future of cryptocurrency. It's just in time as fears of recession threaten the US market's longstanding rise.
2. Markets, we can trust.
For the US market, the fear of recession is kicking in, and experts predict it is fear of instability that will be the final blow to an otherwise steady incline. People know all too well that nothing—not even soaring success—lasts. But, blockchain will be there, opening like a forgotten doorway, to lead a future domain for hungry investors who steal their investments from old funds.
The only uncertainty in this switch is when it will happen. The bear market could strike at any time, leaving cryptocurrency as an appealing option when it does. The truth is that people will realize blockchain allows crypto to retain its value more easily than the presently dominant forms of currency. For that reason, ordinary people will start to turn to it in order to protect their life's earnings, savings, and bets.
3. Stablecoins, we can use.
If you thought crypto was the end of the future, you would be wrong: Stablecoin takes it to its next permutation. They are the cryptocurrency that ties itself to the US dollar and other real assets. This makes it more comfortable for stores and retailers to adopt it as a legitimate payment avenue. It also makes it more attractive to investors who can't yet trust the unlimited potential of those like bitcoin.
Governments will be more able to regulate them since they are tied to real assets, and they are less likely to take the wait-and-see approach they have in the past. We will see stablecoin replace traditional currency, but we have to wait for the US market to turn from bull to bear.
Bear, Blockchain, then Boom.
When the US market turns bearish, we will see the attractiveness of blockchain and crypto shine as it turns real-world assets like cash into more stable versions of currency. Tested through the playground of games, we will see a simulation of crypto take dominance as a primary form of payment.
These predictions—depending on the stability of the US market and the increasing fear of recession—may not take place for several years, but they will happen. And, blockchain is just the beginning of a technological boom that will shake up everything we think we know about how the economy works.