Blockchain Trends 2022
Table of Contents
1 Do you know what blockchain is?
2 With blockchain you get:
3 Blockchain business model
6 Blockchain and IoT integration
7 Projects related to IoT
8 Vaccine Manufacturing and Tracking
9 In the banking sector
10 Use of blockchain in the Metaverse
11 Increased demand for professionals with blockchain skills
12 What advantages does Blockchain technology bring to reward crowdfunding?
Do you know what blockchain is?
Before, we have talked about blockchain but it really is a fashionable topic and brings advances to companies that decide to choose to use this technology.
If you have not yet understood or do not know what Blockchain means, here we explain it to you:
The literal translation is blockchain. It is today a set of technologies keeping a record that is not only secure, but also synchronized and distributed of digital operations without intermediaries.
It is responsible for producing, managing and storing certified information through incorruptible, effective and efficient technology such as computers.
Through which, it facilitates the registration of transactions in a business network.
Blockchain is optimal for obtaining information for business, providing immediate and transparent data that is stored in an unalterable way in a ledger where only authorized members have access.
With blockchain you get:
– [ ] Increased confidence
– [ ] Security
– [ ] Efficiency
If you are interested in knowing more basic information or the advantages of using this technology, you can find it in our blockchain article for beginners .
Blockchain business model
It has three features:
- Decentralized: Because the data is stored within the chain of blocks and all the data is proof of alterations or copies since each block has an identification number.
- Peer-to-peer transactions
- Reliable network: Due to the transparency of this system, since the transactions, in addition to being secure, if they have been carried out through the public address, are visible, but it protects the identity through a complex cryptographic process and is represented by its public address. .
If you are interested in learning more about blockchain business models, you can find the information here
As we have mentioned before, since there has been growth in recent years, we have decided to investigate the trends of this 2022 regarding the blockchain.
NFTs have become a trend , we see more and more NFTs on the network.
NFT is a non-fungible token, an irreplaceable piece.
In other words, they are digital assets and allow assigning or claiming ownership of a unique digital piece, traceable through the use of the blockchain.
NFTs can be music, drawing, games, etc.
If we talk about the world of video games, one of the first to use this was a game called Cryptokitties.
In which, players had the option to buy or sell virtual cats with real money.
On the other hand, in countries like South Korea, they consider this similar to bookmakers, which is why they seek to block this type of game.
People who decide to use cryptocurrencies bet on the best known on the market, since they offer more security and maintain their price because they are supported.
This is the case of Bitcoin, Ethereum or Dogecoin, they are the most famous cryptocurrencies for using this technology.
Bitcoin: It is a cryptocurrency and a payment system without a central bank or a single administrator, free from control and bureaucracy.
Ethereum: Open source platform used to execute smart contracts.
Dogecoin: It is a cryptocurrency derived from Bitcoin, developed by engineers who copied the exact code of the software
Blockchain and IoT integration
The internet of things is the process that allows objects or elements to be connected to the internet, such as: light bulbs, televisions, watches, appliances, smartphones, among other things.
If the blockchain is integrated in this case, problems related to security and scalability can be solved, due to the security offered by this technology called blockchain .
IoT related projects
Helium Blockchain is a new blockchain built from the ground up to incentivize the creation of decentralized public wireless networks. They use this technology to connect these low-power IoT devices (such as routers and microchips), and allow third parties to connect to said network while build a sustainable economic ecosystem.
It is a company that sells products mixing blockchain with IoT, offering comprehensive supply chain solutions. In addition, it provides real-time updates in these processes.
It was created in 2015 and they seek to develop everything related to the Internet of Things.
It is the world’s first IoT-focused blockchain platform.
They seek to establish a new model of transactions with virtual money, different from the one traditionally used in the cryptocurrency market.
Vaccine manufacturing and monitoring
Due to the situation of the COVID-19 pandemic, blockchain technology has several important potential use cases in the tracking and distribution of vaccines, in this way avoiding vaccine counterfeiting, because it allows to demonstrate the veracity of vaccine shipments and track location.
The blockchain could speed up the ability to recognize when a product recall might be needed, unify the record of vaccination rates, vaccines at the correct temperature, among other things.
This means, thanks to the use of technology we will be able to better manage and organize the vaccine process without errors or false information.
in the banking sector
Because of the security that characterizes the blockchain in its transactions and more and more banks are betting on starting.
Banco Santander , JP Morgan Chase or HSBC , among others, have begun to implement and experiment with this technology, since fast and secure transactions would be achieved through blockchain, even transactions between different banking institutions immediately and with low commissions. .
Santander bank has launched the first bond with end-to-end blockchain technology, which is a first step for a possible secondary market for tokenized securities in the future. The $20 million bond will remain on the blockchain for its entire life, until maturity.
“Santander is at the forefront of the process of deep digital transformation of the financial sector and this operation is an example. We want to take advantage of any technology that speeds up this process so that our clients can progress and be faster and more efficient, and blockchain is one of those technologies”, said José García Cantera, financial director of Banco Santander.
Blockchain use in the Metaverse
The metaverse is in fashion and more and more companies decide to advance and innovate with this option, such as: Facebook, Instagram and Whatsapp, since they now work under the name of META.
But what is the metaverse?
The word “metaverse” is an acronym composed of ‘meta’, which comes from the Greek and means “after” or “beyond”, while ‘verse’ refers to “universe”, so we speak of a universe that It is beyond what we currently know.
In other words, it is an environment in which human beings could interact both socially and economically through avatars in cyberspace, which functions as a reflection of the real world, but without its physical limitations.
What relationship does the metaverse have with the blockchain?
It will allow you to store data. With the help of digital assets like NFTs and cryptocurrencies, the Metaverse will have a defined ownership status and a functional digital economy.
Increased demand for professionals with blockchain skills
As we have seen, the blockchain is growing in the market and every day more companies are betting on using this technology, so as demand increases, supply also increases.
LinkedIn suggest that blockchain was one of the most demanded job skills as of 2021. Therefore, every day companies are looking for people who have developed in this technology, so they can support and adapt business models to implement innovations.
At Bit startups, we use the blockchain to support the legitimacy and security of transactions, to offer a product suitable for all audiences.
In addition, we are the first reward crowdfunding platform based on blockchain technology.
What advantages does Blockchain technology bring to reward crowdfunding?
Thanks to tokenization , the patron not only legitimizes his right to the product or service, but is also able to exchange it with other users of the platform in an easy, fast and secure way, in a trading market.
Finally, we can see that the blockchain is conquering all sectors of the market and more and more companies are joining to use it.
We are one step ahead because we use this technology and also the metaverse.
And would you like to use blockchain in your business? Remember the benefits that it offers, evaluate if it adapts to what you are looking for in your company and adapts the company to new technologies and market trends.