2019 and Crypto: What Will the Future Bring?
The current state of the crypto market looks stronger and more diverse than ever. With 2019 not too far away, the future looks even more promising for cryptocurrencies and the blockchain.
Here are our top 5 predictions for crypto in 2019.
Big Financial Institutions Entering Crypto
Some of the nation’s largest financial institutions have been eagerly waiting for the day they can finally enter the crypto market. Big banks have to abide by a host of rules and regulations before investing, which currently makes entering the space almost prohibitively difficult, but we believe that 2019 will be the year this finally happens.
What will accelerate this entry is the implementation of certain regulations, like consumer confidence, investor protection, and transparency, that institutional investors have come to expect. All of these are necessary to truly get financial institutions on board and have full confidence in the viability of crypto as an investment asset class.
Smart Contracts Finally Taking Off
“Smart contracts” could prove absolutely transformative to business in the near future. The idea is that contracts will execute automatically when conditions are filled, meaning payments will be made, or deliveries dispatched, or anything else in business which is typically defined by a contract.
Blockchain as a Security Measure for Electronic Information and Digital Devices
Being encrypted could serve the blockchain well in a potential use as a security measure to safeguard electronic information and digital devices. Blockchain computing power currently used to mine Bitcoin could eventually be put to use in safeguarding our online information as well as all of our increasingly connected digital devices.
More Use Outside Finance
While the benefits of blockchain in finance have long been evident, its use seems very beneficial for almost any industry that involves recording transactions.
It’s already happening in HR, through the use of blockchain CVs to streamline the hiring process by verifying applicants experience and qualifications.
The legal field seems ripe for a blockchain technology. Any legal work involving transfer of ownership, like real estate law or intellectual property law, will become much more efficient through the use of smart contracts and distributed ledgers.
In the manufacturing realm, expect companies to adopt the blockchain for use in tracking transactions in their supply chains.
Increased Adoption of Security Tokens
Ever since the debut of Ethereum back in 2015, the world was first introduced to the concept of a “shared world computer” on which decentralized computation could take place. This was the start of the “utility token”, which are tokens representing shared ownership of a digital resource. Computing power and computer storage space are two examples of digital resources that can now be bought and sold using these tokens.
Unlike utility tokens, which want to remove the risk of regulation through decentralization, security tokens are fully compliant representations of ownership in traditional asset classes like real estate and stocks. The crypto blockchain gives investors a 24/7, transparent and global platform which allows them to trade in every kind of security imaginable.
With its huge potential market, expect to see the increased adoption of security tokens in 2019 and the potential to be as big as the current ICO craze in the near future.
Get 2019 Started the Right Way with Pelicoin
Learn more about cryptocurrencies, the blockchain and other crypto topics on our blog, and check out Pelicoin’s many locations to get started with crypto today! Learn more about Pelicoin and contact us today at (504) 507-0879 or support@pelicoin.com.