As 2020 began, we’re only a year away from John McAfee’s crazy prediction regarding Bitcoin adoption. Although he might not be right, this year is still showcasing great potential in regards to adoption and development. The market is maturing, the users being more specialized in blockchain than ever before.
As the adoption of blockchain technologies is further expanding into new industries and markets, the development in this space is growing tremendously. For that reason, there are a few trends that seem to be standing out in 2020, in regards to blockchain development.
More Blockchain Gaming
The video gaming industry is a massive one, especially in 2020 when more people than ever before identify as gamers. Because the competition is growing tremendously, developers need to figure out how to create a unique product by using new technologies. Blockchain is an ideal playground when it comes to game development.
Developers have been building games and gaming systems on top of blockchain since its early beginnings. Casino games are some of the first to adopt blockchain into their gambling systems. Games like dice, roulette, and even poker live on the blockchain now.
A casino such as Gametwist Online can offer users an entertaining gambling experience for free. Users have the opportunity to try some of the best slots in a fun environment without having to leave the home. However, if you combine such a system with the countless advantages that blockchain holds you can create casino games that are next level.
The commodification of gaming through blockchain is going to represent an essential trend in 2020. The transparency and security of blockchain technologies are great features that every game needs. However, blockchain can also empower users to have peer-to-peer interactions, removing the need for a third-party to regulate their gaming experience.
As more people started discovering how vulnerable certain digital systems and online platforms can be, the interest in cybersecurity started growing constantly. Regular people started looking into new security systems to protect their privacy and data online. In this quest for building safer systems, blockchain is a technology that was brought up many times.
Although blockchain has countless strengths that can improve digital systems, it still needs more work. Blockchain can be inefficient in some cases, global experts considering it similar to already popular cyber-protection techniques.
However, such technology has lots of potentials since its adoption and implementation is still limited. That being said, 2020 and the following years can present new opportunities for security experts to build a better system using blockchain.
Central Bank Implementations
Many see blockchain as a revolutionary system built against big banks. It was promoted many years by activists as an alternative. Although blockchain might not replace banks in the near future, the two of them can work together and create something better.
Banks are using rather outdated systems that will soon have to innovate or be replaced by something better. Fintech and blockchain represent the banks’ best shot at innovating. Interest in these technologies has been shown by many central banks, far more than just China and Venezuela. In 2019 banks have tested distributed networks in their financial systems but, 2020 might be the year when they implement and release something new to the broad public.