Blockchain Trends to Watch out for in Asia Pacific in 2019

While 2018 saw a slew of investments and huge developments in blockchain industry, 2019 will more likely to bring in better transparency in the industry.

Blockchain technology has covered almost all the sectors as enterprises are in need of trustless transactions and secure record keeping. The global blockchain market is to reach $20 billion by 2024, according to the Transparency Market Research. This accounts for increasingly competitive vendor landscape in the blockchain technology market.

To know more about the trends to look out for this New Year, we spoke to David Chaum, computer scientist, cryptographer and founder of Elixxir, a blockchain solution that enables confidential messaging and payments.

Here are the edited excerpts from his interview.

 

The Change

Blockchain doesn’t have the level of privacy that consumers minimally expect. It doesn’t have the kind of transaction speed that consumers expect, it is not a kind of app that consumers are used to using. It doesn’t have the kind of nascent stage proof level of security that’s actually needed. 2019 will bring that in blockchain space.

More Use

More use Use-cases will emerge, which would show blockchain’s value more clearly and will instill more institutional and user confidence. For example, the creation and emergence of more commercially-friendly blockchains, like aelf. Decentralized applications (Dapps) will focus more on user interface and user experience, so that blockchain platforms are no different from current mainstream apps in terms of usability and experience.

This story is part our special series on the new trends of 2019. To know what the coming year has in store for Agritech, click here.