David L. Shrier is a futurist and a globally recognized authority on financial innovation. He holds two positions at MIT and the said School of business at Oxford University. His next book, blockchain basics, will be published by Hachette in January 2020.
2020 brings us the beginning of a new decade, followed by the gradual maturity of blockchain technology, which makes it fall from the need to look up to the real world, and will have a real impact on the problems of the real world. We may be at a turning point in this industry.
Here are seven blockchain trends that will take effect in 2020, and we will move from the experimental phase of blockchain to the implementation phase.
1. Natural use cases requiring blockchain application technology
In the past few years, I have found in my work at MIT and Oxford University that one of the challenges of educating entrepreneurs to accept blockchain in more than 130 countries is the need for more convincing cases. It is not only any practical case, nor any scenario that distributed ledger may be applicable to, but also the natural use case that blockchain is obviously a platform superior to other database technologies. I hope to put forward a more incisive view on the best use and scale of blockchain from the perspective of industry in 2020.
2. Great potential of game application
The $300 billion video game industry and the $94 billion online gaming world represent interesting applications of blockchain.
According to John D’Agostino, founder of the digital asset working group, “commercialization of games and game experiences” is the goal of 2020. He went on to say that he believes the opportunity lies in “combining the theoretical substitutability, transparency and security of blockchain databases with the ease of use and portability of tokens to create new markets for experiences such as digital native assets and online games.”
3 project regression based on bitcoin protocol
Bitcoin is a special kind of thing, a kind of hacker attack, a kind of huge garbage that has surpassed itself for a long time. Ethereum and other newer protocols are developed more consciously in consideration of third-party development. But. Bitcoin has suddenly become the focus of attention again, and I have heard that various bitcoin protocol projects are in progress.
Jack Dorsey happens to be going to Africa for a few months. Related to this, he thinks bitcoin is a game changer on the African continent. In fact, Michelle chivunga, an adviser to the African Union, said, “as the African free trade area agreement will change the continent, Africa will play a leading role in the digital revolution using key technologies such as blockchain. The time of Africa has come. “
4. China’s blockchain, risks and opportunities coexist
In just a few weeks, on the one hand, China announced a warm embrace of blockchain, on the other hand, it began to take active law enforcement actions against encryption companies.
The digital currency of the central bank has entered the stage of centralization
Over the past few years, I have spent more and more time working with governments and multi-government agencies to discuss how to develop innovation policies to support financial technology and blockchain. My colleagues and I have seen an increasing interest in central bank digital currencies, not only in China and Venezuela, but also in countries large and small.
6 supervision is king
Sometimes, the “pipeline” of the financial system, while not as glamorous as token products or new e-wallets, is essential for any other great idea around blockchain to work.
Ben Yablon, chairman of the salt industry, said: “without sound regulatory standards, the industry can never expand.”“ Project founders worth hundreds of millions of dollars should not and should not be allowed to disappear.
7 network security? What’s that?
I’ve never stopped being surprised by the fact that cryptocurrencies developed by cryptographers are often held by highly paranoid people who seek ultimate security for their money (or even distrust the central bank), but there has always been a serious problem of network security inefficiency.
A few years ago, when we were sorting out MIT’s cybersecurity books, I had the privilege of talking to 30 of the world’s top cybersecurity experts. It turns out that the blockchain world is no better than any other country in terms of network protection, and in some cases it may be worse.
In 2019, a number of exchanges may be stolen $200 million or more, and there may be more unreported hacking incidents. I hope to see better network health and network practice in 2020. In the next few months, you will hear more about this topic.
(compiled by Zou Zhen)