The cryptocurrency and blockchain technology market are subject to constant change and many trends come and go. Many of our readers will probably have wondered which trends will endure in 2021 and have what it takes to become really hot topics.
In today's article, we want to take a closer look at three trends that will play a major role.
Internet of Things - The Industrial Revolution
The Internet of Things is becoming a ubiquitous topic. In the domestic sphere, the heating system communicates with an app that helps save energy and the refrigerator reports when the milk is running out. But the industry will also rely massively on communication between devices to take supply chain management and production lines to a whole new level.
Blockchain technology can play a key role in this because it enables payments between machines that act autonomously. The technology also guarantees the integrity of data exchanged between devices.
In addition to Ethereum, Cardano and Polkadot are also preparing to tackle this market. The year 2021 will definitely be exciting for IoT.
Decentralized Finance - Financial Services on the Blockchain
In 2020, we have already seen the first application of decentralized finance and the possibilities. In the current year 2021, a gigantic industry will emerge around this topic. Here, "farming" and liquidity pools will also play a role, but it is foreseeable that increasingly adult use cases are on the rise.
These include the decentralization of insurance services and credit. This complex of topics will play an increasing role in developing countries, because they often lack access to traditional services as they are known in the industrialized nations.
Therefore, an increased interest by companies is to be expected, which will advance into this sector and thus will and must also test regulatory boundaries in order to expand this new sector.
NFT - Digital Art becomes certified
Non-Fungible Tokens are also not new, but what will change and is already in full swing is the acceptance of the new technology. This will give digital collectibles a certificate of authenticity in the form of a unique token.
Here, the use cases are simply unlimited and meet a gigantic industry. Whether it's collectible cards of athletes or card games like Pokémon or Magic the Gathering, they could all soon be digitized and need a differentiator from digital copies.
So, it's not so much a question of whether this revolution will take place, but when it will finally make it. The year 2021 is expected to hold big things for NFT and its development.