Where Blockchain and Crypto Will Take Us Next?
Blockchain experts now foresee that the blockchain is going to change everything more than what the internet has changed. We have all heard of Bitcoin. It is impossible not to have. I know of at least one person who tried to talk Spectrum customer support Number into accepting Bitcoin against his bill. Bitcoin has been alternatingly called the next currency standard as well as a scam They are projecting this state-of-the-art technology as more consequential than the internet – the internet, which introduced us to the digital era we now live in!
Today, blockchain is disrupting every industry and sector you can name; be it supply chain, human resources, accounting, or operations, blockchain is offering innovative solutions in every domain.
No wonder, companies, and businesses are rushing to inculcate blockchain in their complete business operations. You’d be amazed to learn that 81 of the world’s top 100 public companies by market capitalization use blockchain technology – and they continue working on developing blockchain solutions that can further optimize their processes.
The Birth of Cryptocurrency
It has been almost 14 years now since the inception of blockchain. But do you know what was the first successful manifestation of this amazing technology?
Cryptocurrency! As someone would put it, it is the beginning of something great; a currency without a government which is something necessary and imperative.
Surveys now confirm that it’s likely that over 10% of global internet users own some form of cryptocurrency – 500m people if we assume 5 billion internet users. Although cryptocurrency is legally restricted in some countries, its adoption rate has been rapidly rising throughout the world.
Carl Runefelt is a global crypto leader who has invested in more than 360 crypto startups. Not long ago, he was hardly making ends meet, but today he is a multi-millionaire and is featured in Forbes millionaires under 30.
While speaking on his YouTube channel, The Moon, he expressed, “I am very confident that this will be a very good investment. I believe that Bitcoin is not only going to go to $500,000, I think that Bitcoin is gonna go to five million dollars per Bitcoin in today’s money. Obviously, with inflation, bitcoin could go to trillions of dollars per Bitcoin. Actually, it will because it is inevitable, but because the dollar will collapse at some point.”
In a nutshell, we are on a precipice where we’ll soon change the way how we deal with and manage money; cryptocurrencies will eventually replace the traditional fiat currency – it’s already in the making as every activity has become an online experience.
Blockchain and Cryptocurrency
So blockchain is the engine and, figuratively, the DNA that powers cryptocurrency; it secures and allows transfers of digital tokens cryptographically.
This technological marvel started with Bitcoin – the pioneer cryptocurrency launched in 2009 by Satoshi Nakamoto – which today has a whooping market cap of $780 billion.
There’s a widespread misconception and lack of understanding of how blockchain is different from cryptocurrency – yes it is!
If you follow crypto, you’d probably chuckle but there are all sorts of people. For instance, In May 2022, The Ascent surveyed 2,000 American adults. Surprisingly, 9 percent said they don’t understand how it works at all and 8 percent had never heard of cryptocurrency – holy smokes! You still find some people in this information age where information is just a click away!
Where Are They Headed?
Every other business is now galloping to embrace blockchain and cryptocurrencies into their processes and customer handling. Every other day, businesses are coming into the fold.
We’ll let the numbers say it all: Between 2012 and 2022, the price of Bitcoin has increased by over 540,000%. No wonder 300+ million people around the world use/own cryptocurrencies in 2022.
Carl Runefelt says, He says, “Bitcoin will keep on rising with time. Bitcoin is the best hedge against inflation that we have in the world right now, and Bitcoin is also the best form of money that we have and have maybe ever seen in the history of humans. With that said, fiat is the worst form of money we have seen in the history of humans, and I see a huge transition now where we’re going to go more toward a crypto economy.”
When it comes to crypto scams, the clampdown is underway. By 2024, Gartner predicts that successful cryptocurrency thefts and ransomware payments will actually decrease by 30%. This is because blockchain technology is getting even more powerful and impregnable.
Lastly, blockchain will get a major bump after the launch of the metaverse – among other things, the metaverse will be a fully-functional marketplace. This means that blockchain will be the major driving force behind this unimaginable project.