Though speculation was the typhoon that saw the public awash in blockchain mania, receding waters have revealed that the only blockchain ideas left standing are those that are built on a solid foundation of enhanced functionality.
Banks are keenly aware of the need for AI and data science, and in many ways have already mastered the ‘old guard’ of AI tools. However, they’ll need to embrace new and unique AI solutions to cover ground that is yet untrod—unobtrusive and quality relationships with their customers.
As other assets are onboarded to blockchains, the new technology will allow for markets to flourish around the clock without maintenance, enjoy better fraud and network protection, and take advantage of a frictionless online investing and banking experience. Although blockchain has struggled to gain relevance in terms of upending traditional financial services, this latest development is a great step forward for all stakeholders in financial markets.
These advances mean that an era when investors will be able to hold and manage their entire portfolio from a personalized wallet isn’t far off; it’s already arrived.
Cyber-security has become a more comprehensive effort than ever before. When attacks are not simple hacks and direct breaches, security experts must focus their labors on the less-considered paths of attack. 2019 will see the challenges increase and evolve as companies must constantly contend with millions of possible attack vectors. However, as new attacks emerge, so do the mechanisms to defend against them.
Blockchain can be a breath of fresh air for multimedia’s ongoing push for wider reach by streamlining the connection between content creators and brands looking to capitalize on their exposure. By supporting new and unique ways to connect and remove the need for intermediaries who inevitably slow the process, blockchain offers a freer and more dynamic ecosystem both for vloggers and the companies seeking to expand their influence.
Ethereum remains the king for now as its competitors continue to find their footing and attempt to gather recognition. To its credit, the platform is working on improvements—including making the switch to PoS consensus and implementing the lightning network for off-chain transactions—but it is fair to question if it is too little, too late.
Blockchain-based computing tools are built on the strength of their networks, which is both a negative and a positive. On one hand, they are entirely reliant on the number of users connecting and collaborating, so they could theoretically fail before they reach critical mass. On the other, they provide a truly viable model to unlock the real potential of computing power to continue fueling technological innovation.
Mainstream adoption will be key to change people's perception of the crypto space. Dapps are ideal candidates to encourage this shift as they are primarily designed to appeal to ordinary users. Proving their usefulness and usability should make them practical alternatives to existing services.
As players are given a greater share of the value generated by their own fandom, new dynamics in the relationships between themselves and content providers will emerge. This is going to be big in the gaming world, but blockchain still has an uphill battle to face.