Top Blockchain Trends in 2022
Last year was a very fruitful year for the crypto community and cryptocurrency as a whole. Many things changed in the crypto world and many new users started to use cryptocurrency. It also gave a very good return to the investors of cryptocurrency.
But these are the things which happened last year. Now the question is what is the way forward in the coming year.
As we all know Cryptocurrency and the technology revolving around it i.e, blockchain builds trust and security for its user in the online world. And it is not only being used as Just the transaction thing but is also used in solving the many other problems around the world. It doesn’t have any border and you can say that it democratizes the thing in a very efficient and secure manner.
Now a day blockchains are used in multiple ways or say at multiple places, so the cryptocurrency in Smart Contracts, logistics, Supply Chain Origin, Security, Protection against identity theft, etc. We can say that blockchain can be used anywhere where there is a need for security and integrity where the database is accessed by multiple people. According to techJury during 2022, worldwide spending on blockchain solutions will reach $11.7 billion. Here I am going to discuss some of the trends that can happen in 2022 which will change the lives of many.
1. More countries may adopt Bitcoin and national cryptocurrencies:
In the year 2021 El Salvador became the first country to adopt bitcoin as legal tender means it can be used across the country to buy different types of goods and can also be used to pay salary.
According to many qualified persons in the bitcoin world says during 2022 a number of countries will adopt bitcoin and related cryptocurrencies as legal tender.
2. IOT integration with Blockchain:
As we all know blockchains ledgers are automated, encrypted, and are immutable. And this thing is necessary for IoT for its security and scalability. Blockchain could even be used for machine-to-machine transactions – enabling micropayments to be made via cryptocurrencies when one machine or network needs to procure services from another.
So in 2022, there might be pilot projects going on for IoT integration with blockchain.
3.Only 0.71% of the world's population use blockchain technology:
According to Edureka
Blockchain adoption statistics show that only 0.71% percent of the human population is currently using blockchain technology, or somewhere around 65 million people. According to even the most conservative estimates, this number is expected to quadruple in 5 years, and in 10 years, 80% of the population will be involved with blockchain technology in some form. That is millions of people will be added during the year 2022.
4. NFT is expanding beyond online Art:
We all have heard about Non-Fungible Token(NFT) and its growth during 2021. The prices of different NFT tokens sky-rocketed and NFT’s of different things came into existence. Many artists, actors from different industries, musicians jumped into the NFT world. Along with that, the metaverse thing by Facebook, Microsoft, and Nvidia created another level of hype around it in the market. So there will be plenty of opportunity during 2022 in the innovative use case of NFT.
And there will be many more things that will happen during 2022 in blockchain and the cryptocurrency world. Blockchain can be used in vaccine manufacturing and tracking, Supply chain and logistics management, and many more.