Blockchain Trends to Watch out for in Asia Pacific in 2019 Blockchain technology has covered almost all the sectors as enterprises are in need of trustless transactions and secure record keeping

By Komal Nathani

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Shutterstock.com

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.

Komal Nathani

Former Correspondent, Entrepreneur Asia Pacific

A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!

Business News

Citigroup Mistakenly Credited a Customer with $81 Trillion Instead of $280: 'Inputting Error'

An employee caught the mistake quickly, but the bank has recently made other errors that have drawn scrutiny and fines from regulators.

Side Hustle

I've Made Hundreds of Thousands of Dollars With a Fun Side Hustle — And You Might Have Seen Me Doing It on TV

Phil Schraeder, CEO at GumGum Advertising, turned a childhood passion into a lucrative side gig.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

Entrepreneurs, Stop Putting Your Life on Hold. Here's Why Embracing Joy Fuels Success

Emphasizing the urgency of not postponing life's joys for entrepreneurial success, advocating for immediate action to balance work and life to avoid future regrets.

Business News

HP Is Laying Off Up to 2,000 Employees 'All Over the Company'

HP is aiming to save $300 million through job cuts by October.