Blockchain And Cryptocurrency 2019 Predictions – Vol. IXbr>
We continue our series of predictions from the industry’s thought leaders on what may happen in the coming year.
By almost any measure, 2018 was a challenging year for the blockchain/cryptocurrency industries. Beyond the usual issues facing young businesses in hiring, marketing, technology and financing, companies were engaged in a crisis of confidence with investors, as the crypto markets lost 80 percent of their overall value from the beginning of the year.
Add to that the magic fountain of funding caused by the curtailing of initial coin offerings, increased government scrutiny and outright bans of certain activities, and the bitter battles between technology developers that caused market gyrations, and it’s amazing that any company survived such severe headwinds.
But heading into 2019, the survivors of this industry wide winter are showing faith in the underlying technology of blockchain and the continuing promise of cryptocurrency. They point out that institutional investors are still on the sidelines, and many retail backers are still not in the game in any huge way.
Add that to the continued interest of big businesses and the spirit of innovation shown by blockchain and crypto pioneers, and the story looks a lot brighter than mere numbers would suggest.
Block Tribune asked thought leaders in the industry for their takes on what may happen in the coming year. Now through the end of the month, we’ll spotlight their thoughts on what may happen in what all hope will be a happy and prosperous 2019.
At the Quantum Resistant Ledger (QRL), we believe that 2018 has been very encouraging, in terms of real blockchain development. While there has been some disappointment in the cryptocurrency market in terms of prices, many of the projects funded in 2016 and 2017 have been meaningfully advanced and/or launched. We think as the industry continues to mature, we will see more unique and novel use-case blockchains elevated, and that 2019 has the potential to be a truly breakout year for blockchain in general.
Graham York, Co-Founder at Volavia
I think that what is more interesting is the wider decentralisation trend. The blockchain hype is stagnating, but increasingly the public are realising how centralised platforms are misusing and exposing their data and pattern of life. Recent statements and actions by Tim Cook and Tim Berners Lee back this up. This is the issue I am hearing in every large enterprise engagement within SeedCloud. The blockchain ‘narrow maximalists’ need to embrace wider trends and realise that blockchain itself maybe only be a precursor technology to a wider societal revolution.
I predict that in 2019, IoT vulnerabilities to hacking will increase substantially as new devices hit the market without adequate protection. Virtual Reality for training and simulation education within enterprises will become the hottest trend for corporate learning organizations, and Augmented Reality wearables will break into the mainstream and help increase productivity. Device management for the enterprise will extend to the consumer space for protection and control over IoT devices. Blockchain and distributed ledger technology will become core to the future of voting in countries.