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MIT Technology Review published an article today, January 2, claiming that 2019 is the year when the blockchain will become trivial. The Review is an independent but entirely controlled journal by the Massachusetts Institute of Technology of the United States (MIT).
The article provides a laconic overview of its grip on the recent history of the blockchain, claiming that technology was "a revolution that was supposed to break the global financial system" in 2017, but that was a disappointment in 2018 – in light of the significant drop in the valuations of almost all cryptographic assets and currencies based on blockchain.
Nevertheless, the review supports, at the height of the new year, many "innovative sound projects are still alive and even close to bear fruit". Along with the plans of many large companies to launch major blockchain-based projects this year, 2019 is therefore reportedly expected to be "the year when blockchain technology finally becomes normal".
As an example of the imminent transformation of the industry, the Review cites the upcoming rumors of Wall Street players such as the New York Stock Exchange (NYSE), the Intercontinental Exchange (ICE) and the investment giant Fidelity in the cryptocurrency business.
Although the hype surrounding the blockchain seems to be decreasing, it claims that their infrastructure offerings approved by the regulator for crypto are an important watershed in the industry that becomes mainstream.
A further example, continues the magazine, is the improvement of the technology of the intelligent contract that will allow its use in more legal contexts, making the "encryption" "code is law" a step forward towards becoming an accepted reality.
The final argument of the article is that this standardization of technology and industry will entail a significant remodeling of the ideology that gave cryptocurrencies and blockchains their first impulse. Crypto's roots as an anti-government movement are reversed, argues the article, with the advent of national cryptocurrencies – whether the controversial cryptocurrency supported by Venezuela's oil, the Petro, or other states' plans for their own coins supported by the state.
A further example given is the approval to explore the case of cryptocurrencies supported by central banks (CBDC) by the head of the International Monetary Fund (IMF) Christine Lagarde this fall.
Almost a year ago, in mid-January 2018, Cointelegraph published a 'heat analysis surrounding the blockchain revolution – encapsulated by the lucrative possibilities of companies that use technology as the word of order in their name to cash in on the market overcrowded.
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