7 Trends in Blockchain for 2019

If you’ve heard of blockchain, it’s probably because of the headlines made by cryptocurrencies like Bitcoin. As entrepreneurs have scrambled to launch cryptocurrency-based businesses and investors have actively traded this volatile form of exchange, Bitcoin, Litecoin and other cryptocurrencies have generated a lot of buzz. 

But blockchain can be (and already is) used for so much more. The technology behind blockchain that makes it ideal for digital currency makes it ideal for other use cases as well. Blockchain can be used to ensure regulatory compliance, improve supply chain management, and increase data security, to name only a few examples. And we’re only beginning to understand all possible applications of the revolutionary technology. 

What does the future of blockchain hold?

You might say we’re poised on the threshold of discovering the potential of blockchain, without knowing exactly what the future will bring. Blockchain is more secure and faster because it is a “chain” of records that can’t be changed or stolen. It’s a peer-to-peer network of interconnected computers that operate free of any central authority that would normally act as overseer. But what we’ll do with that technology is yet to be seen, because we’re still in the early stages. One thing is for certain, however: Blockchain will be used for much more than cryptocurrency, and it will create a lot of jobs. 

What does blockchain offer in the immediate future? We scoured the articles and posts of some in-the-know and pulled together this list of seven blockchain trends to watch for in 2019. 

1) Blockchain adoption will grow

Despite the headlines, blockchain is already used outside of cryptocurrency. The technology has been used for voting, food safety and shipping, for example, and big brands like Walmart, IBM and Amazon are exploring ways to capitalize on the technology. Industries are looking to blockchain to streamline processes in fields such as supply chain, medical data and administration, and narrower applications of the technology are already in use. For example, in the 3D printing space, blockchain makes it possible for organizations to apply data governance, identify provenance, and ensure auditability and validation. The gemstone industry uses blockchain to ensure transparency, tracing a stone back to its origins to ensure the stone is real and not the product of conflict mining. And blockchain is being used to address climate change issues, including carbon emissions and food waste. Those are only a few examples that demonstrate just how wide-ranging the application of the technology will be moving forward. Who knows what 2019 will bring? 

2) Serial entrepreneurs will get on board

Serial entrepreneurs—those who have already been through the startup process—have already entered the blockchain space, and more will continue to do so in 2019. The entrepreneurs will tackle using the technology to solve problems in an innovative way, such as the man who wants to launch the world’s first professional fantasy football league by using the blockchain to ensure transparency and honesty. Look for more creative applications of the blockchain in the year ahead. 

3) Apps will be built on blockchain technology

Organizations will build apps on blockchain technology, moving beyond the proof-of-concept stage and into widespread adoption as they start to realize the cost savings and enhanced security they can achieve. In fact, it’s predicted that blockchain application development will revolutionize technological advancement. These apps might have broad use such as cybersecurity or be niche-focused, as in our fantasy football example above.

4) Blockchain will be used for identification

With data breaches and cyber attacks now commonplace, it’s no surprise the blockchain will be put to use to increase security, including personal identification. This might be for shopping online where the retailer needs to ensure a consumer’s identity while also safeguarding any personal information gathered, in compliance with regulations such as GDPR. The startup Shopin has tackled this problem by creating a universal shopper profile using blockchain technology. As described in a Forbes.com article, Shopin will store a consumer’s purchase history but only share that data with the organizations the consumer chooses—unlike the widespread sharing of consumer data that goes on today. 

5) Blockchain will beef up IoT

Blockchain technology will improve the Internet of Things (IoT) where apps must run anywhere by building trust, reducing risk, decreasing costs, and speeding up transactions. By 2019, it’s estimated that 20 percent of all IoT deployments will have at least basic levels of blockchain services enabled

6) Blockchain will speed up AI

Artificial Intelligence (AI) needs data to function, and the faster the AI can access bigger volumes of data, the better. With blockchain, data can be authenticated more reliably and faster, making it possible for AI to access Big Data, thereby vastly improving the performance of the AI. 

7) The number of blockchain jobs will explode 

By looking at the first six predicted trends, it’s obvious that demand for blockchain developers will explode in 2019, as increasing numbers of organizations see the benefits of blockchain, and start adopting it and building apps on it. We’re already seeing that job growth. According to an article at TechCrunch.com, blockchain-related jobs are the second-fastest growing in today’s labor market. In addition, the articles states: 

  • Upwork saw an increase of more than 35,000 percent for blockchain freelancers, making blockchain the fastest-growing skill out of more than 5,000 skills in terms of freelancer billings. 
  • On Toptal, the demand for blockchain engineering talent grew by 700 percent, and the number of fully managed software development projects requiring blockchain skills is also on the rise. 

Be part of blockchain’s growth in 2019

How can you be part of the growing adoption of blockchain technology? By getting certified. The Blockchain Certification course offers hands-on training that covers cryptocurrency as well as the broader applications of blockchain. Through the certification, you will learn how to apply blockchain concepts to business situations; build blockchain apps using Ethereum; design, test and deploy secure Smart Contracts; and learn to use blockchain tools and technologies. This certification is an excellent way to launch a career in the exciting and burgeoning field of blockchain. 

What will happen with blockchain in 2019? Get certified and get hired to discover the possibilities firsthand! 

About the Author

Stuart RauchStuart Rauch

Stuart Rauch is a 25-year product marketing veteran and president of ContentBox Marketing Inc. He has run marketing organizations at several enterprise software companies, including NetSuite, Oracle, PeopleSoft, EVault and Secure Computing. Stuart is a specialist in content development and brings a unique blend of creativity, linguistic acumen and product knowledge to his clients in the technology space.

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