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Blockchain 2019: Entering a More Rational and Mature Phase
Cryptocurrencies made big news in 2017 and 2018. 2017 saw an explosion of cryptocurrency prices and investor speculation. They were a modern day tulip mania. 2018 started the year with peak prices for cryptocurrencies that plunged throughout the year, down almost 90 percent by year end.
Block chain technology and cryptocurrencies aren’t dead. They are entering a new and more rational phase. Research into the technology is just now leading to a number of new products and services that will be announced this year.
Walmart plans to use blockchain for supply chain tracking, and in the financial sector, the Intercontinental Exchange (ICE) plans to open a digital asset exchange this year and Fidelity will be opening a new company called Fidelity Digital Assets.
Nikao Yang, COO at Lucidity, said that “for a long time, blockchain has been inextricably tied to cryptocurrencies, but that’s simply one application of the technology. Now, a variety of industries – from manufacturing to retail – will start to explore the improvements blockchain can bring to supply chain transparency, ownership tracking, and others.”
Alison McCauley, CEO of Unblocked Future, said that “the most impactful use cases are not going to be identified by technologists alone. I see forward-thinking organizations raising blockchain literacy across the company so that they can get subject matter and process experts to help them understand where the technology will really make a difference now, not just ten years from now.”
