Top 4 Predictions For Blockchain in 2030

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Cryptocurrency seems to have taken over the world. Everyone is talking about it and everyone wants to learn more. It’s clear that there is a bright future ahead of cryptocurrency and that blockchain is one of the most used buzzwords in many industries. So, because crypto is so important nowadays, here are some predictions on where crypto will be in 2030.


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1. Government and crypto

One of the main predictions is that most governments will adopt cryptocurrency and blockchain. In fact, this is inevitable - crypto is more efficient, more secure, reduces settlement times and it’s easy to trace.

Government cryptocurrency will soon become the main area for experimentation in developing nations that need simpler solutions because of their unstable economy and weakness in institutions. Many of these efforts will happen quickly and with political concerns driving them. Zimbabwe, for example, might create a new cryptocurrency since the majority of the population has turned to the bitcoin because of the inflation. Venezuela has created a cryptocurrency that raised a lot of money during the presale event and many countries will follow. 

2. Frictionless flows and digital assets

Currently, there is a race going on to see which of the four major companies - Google, Apple, Amazon or Microsoft - will reach trillion dollars in value. These companies represent an entirely new economy that’s based on long transitions to digital business and the internet economy. The economic value of brick and mortar businesses that deal with real things has decreased while it’s still important and will remain important.

The impact of digital businesses will continue to grow and the value in stock markets will increase as well.

Blockchain will change how things are at the moment as well as the cost of transactions and information will decrease. This will also deteriorate the traditional views of the firm and focus more on the frictionless flows and digital assets.

“In the future, these firms will be replaced by tokens that will support decentralized systems that create a mega-corporation. There will soon be more trillion dollar tokens than companies.”, says Rose Peterson, a tech writer.


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3. Everyone will have a blockchain identity

In 2030 or sooner, there will be more people with blockchain identities. This stands for both individuals and their virtual or physical assets. Blockchain will bring many identity solutions and improve the systems. Identity systems today are insecure and operating in silos which makes them dysfunctional. But blockchain will provide a single source of verification for individuals and assets.

This will decentralise the data collection and verify the collected data, store information in a single ledger. This reduces the risks of security breaches, increases efficiency and makes it more reliable. Many people in the world lack proof of identity which makes blockchain all the more necessary.

It will create a new identity platform that will store and distribute ledger rather than having one authority. This also means having more privacy. Some use cases are government records, reputation scores, certificates and healthcare records, tax identification records, employment records and so on.

4. Blockchain and world trade

Most world trade will be using blockchain technology. One of the areas where it will be valuable is the supply chain. Now it’s quite messy and chaotic but it can be efficient with blockchain. Right now it’s full of errors, fraud, and inefficiencies. 

Billie Hamill, a tech blogger points out that “There are counterfeit medicines in the pharmaceutical industry, fake handbags, counterfeit car parts, counterfeit electronic equipment and so on. these will all be eliminated potentially through blockchain”.

Are you dipping your toe into the world of blockchain? Tell us your thoughts on it below. 

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