5 upcoming blockchain trends you should expect by 2030
Summary
Blockchain technology has the potential to shrink the poverty gap, in several ways, increasing financial inclusiveness, reducing corruption, and creating formal systems of property rights in those countries where there are no accessible records detailing who owns the assets – thus, impacting worldwide wealth. For instance, to purchase an asset such as a luxury hotel, you need to borrow large amounts of money from a financial institution and take an upfront risk. Based on the development of current regulations, citizens are increasingly required to access public services via digital identification and authentication systems. Moreover the European Commission in its 2017 JRC report proposes the use of blockchain to achieve the goal of creating one stop universal system with the ability to collect, store, verify and connect education credentials in a comparable manner across national contexts. Considering that cryptocurrency adoption is growing, governments will need to find their way to create and implement of some form of virtual currency to stay atune with current trends and be part of the economic growth resulting from it.