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The 2019 will see blockchain become so trivial that it will be "boring", the MIT Technology Review reports in an article published on 2 January.
The report states that "blockchain technology was a revolution in 2017, with the expectation that it would" shock the global financial system ".
The author Mike Orcutt then notes that:
"In 2018, it was a disappointment, and in 2019 it will start to become commonplace."
The MIT editorial office notes the significant impact of generalized accounting (DLT) technology on various sectors of the global economy.
Emerging technology has received widespread recognition as it has already helped inspire transformative innovations in the banking, healthcare, entertainment and supply chain management sectors.
The big plans of Walmart and Wall Street for the blockchain
According to the MIT review, developments towards the normalization of the blockchain in the next year will have a huge boost on the part of multinationals like Walmart.
A similar push will come from the rapid increase in interest for Crypto on Wall Street, with the momentum that brings the blockchain to a whole new level of use.
According to the article, Walmart has tried in recent years "a system of private blockchain" that behemoth wants to use to improve the tracking of its food supplies.
And as the MIT report states, Walmart has revealed plans to make the blockchain system operational within the next year. And the multinational retailer could drive a further adoption after allegedly "He instructed his suppliers of green leafy vegetables to join [it] by September " quest & # 39; year.
Walmart's move follows in the footsteps of Carrefour, a major French grocery store that uses the blockchain to track supplies from farms to its stores.
With a global presence in 12,000 locations, Carrefour has previously stated that blockchain could be instrumental in efforts to detect salmonella outbreaks, one of the major problems facing the food industry.
The auto industry has also seen big moves in the blockchain industry, with an IBM study showing that over 60% of automotive executives consider the blockchain potentially able to improve security, transparency and simplify the management of industry supply chain.
Wall Street companies will have an impact
The MIT Tech Review report also highlighted that financial institutions have expressed a growing interest in cryptocurrency in the last two years.
The Wall Street Intercontinental Exchange (ICE) and Fidelity giants have also made their way into the cryptographic industry with new products. ICE, which owns the New York Stock Exchange, will start bitcoin futures using its Bakkt digital stock exchange.
Fidelity for its part has created the Fidelity Digital Assets platform that will offer custody services to institutional investors entering cryptographic space.
Investment giants such as BlackRock have also been seen as potential big players in the race to offer cryptographic products to customers.
The Blockchain revolution is here
The immense potential that blockchain technology has also attracted Overstock, with its founder and CEO Patrick Byrne saying that blockchain was a revolution, unlike "anything [we’ve] seen in history. "
Bryne, who said he will focus on the blockchain, said that technology is "Bigger than the Internet revolution,"especially in "How it's going to restructure society".
Reportedly, Byrne has invested in several blockchain companies, including plunging $ 6 million into Minds, a blockchain-based social network that could challenge centralized platforms such as Facebook, Twitter and Google's YouTube.
According to the Overstock CEO, 2019 is the year in which the blockchain has its greatest impact. Echoing MIT's call, he said that blockchain products would come out from the first quarter.
The broader picture is, therefore, the one in which 2019 promises to be the year in which both the cryptocurrency and its basic technology have reached new goals in terms of global adoption.
disavowal: This is not an investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.
