Top Blockchain Technology Trends for 2021
We are on the verge of entering a new year, and trust me we are expecting this year to bring in changes that are on the positive end. A lot many things changed this year, and we are expecting next year to be better. With this, our focus will be on technology, and when we speak of technology, Blockchain takes the lead. Amongst the different technological developments, It has made some remarkable changes, and we are going to witness some new trends and applications of Blockchain in 2021 and the years ahead.
Let’s explore more about the change which Blockchain is going to bring:
1. The growth of decentralized financing
Blockchain was initially known for cryptocurrency exchange. Bitcoin was the main player and Blockchain, was the underlying technology, however, with time, this changed, and soon it became the mainstream technology. One of the primary use cases of Blockchain was in the field of finance and transaction. Banking and finance initially started using it to fasten up the pace of transactions. But this will increase in the times to come. In the year 2021, we are going to see a rise in decentralized finance.
We are going to witness crypto-based banks and decentralized finance to become an alternative to the conventional banking system. Decentralized finance is also popularly known as DeFi and is an experimental kind of financial system that doesn’t have the involvement of intermediaries. Rather this form of transaction relies on smart contracts which are automated contracts that get executed once the predicted conditions of the contracts are met. BTC his blockchain network
2. Governments growing inclination towards Blockchain
Amongst the different use cases of Blockchain, the government of different nations has realized the importance of the same, and hence they are showing a growing inclination towards the different use cases of Blockchain. Some of the prominent nations which are actively working in the field of Blockchain technology are Japan, the US, UK, Australia, and China. In fact, China is actively investing in the development of Blockchain technology. With the help of Blockchain, companies are planning to create a more trustworthy system.
3. Baas or Blockchain as a Service
Another trend that we are going to see in 2021 will be the use of Blockchain as a Service. This work is similar to that of Software as a Service, the only difference being that you will get to use Blockchain-based applications as a service. This will allow the companies to use cloud-based solutions to build, host and use their Blockchain apps, smart contracts, and functions on Blockchain infrastructure, which is developed by the vendor. With the growing demand for Blockchain-based solutions, we are also going to witness demand for Blockchain experts.
4. Blockchain will be the new hot skill
Well, this is the new trend that has garnered a lot of attention. Not only the investors are keen to invest in the technology, but even the working professionals are now looking for Blockchain-based certification programs to enhance their career growth. As per LinkedIn, Blockchain was the most demanded skill in the year 2019, and with the kind of growth that we are witnessing in Blockchain, we can only expect this demand to grow. Since more and more companies would be deploying Blockchain technology in their business operations, we can expect the demand for Blcokahin professionals to increase with time. And so, certification courses in Blockchain training programs are going to get even more popular in the times to come.
5. Smart contracts will be the new way of working
One of the greatest uses of Blockchain technology is smart contracts. These are digitized contracts that are pre-programmed. These get automatically executed when the conditions of the contract are met. Hence, it becomes important that you must spend time learning about the working of Blockchain. Smart contracts find use across the different industrial segments; whether it is real estate, or manufacturing, or any other business verticals, then smart contracts are going to find use across all these segments.
6. Cryptocurrency exchange business
The next segment where you will find the use of Blockchain would be the crypto exchange business. With the right knowledge and information about cryptocurrency and the functioning of Blockchain, it will be easier for you to start a business in this segment. You can create software for trading and starting earning some good amounts. Additionally, investment in Bitcoin and other cryptocurrencies is also going to fetch you a lot of money. So, make sure that you get a complete understanding of this blockchain technology.
Blockchain is going to grow not only as a business opportunity, as a service but also as a career. One can also become a Blockchain consultant and start earning money. You can join as a trainer or any college which is providing Blockchain training. The idea is to adopt Blockchain technology and make it a part of your life.
When it comes to choosing the right career option, then Blockchain is the right choice. The above-mentioned trends clearly indicate that we are going to witness a growth in the demand for Blockchain use cases and Blockchain experts who can leverage this technology. Blockchain certifications have become the new buzz amongst those who wish to expand their career in a positive direction. Also, Blockchain technology training can help those who wish to upskill themselves.
The way ahead
It is expected that Blcockhain will witness a CAGR of 67.3%, it certainly means that there is a wave of positive growth in this Blockchain technology. The opportunity is for both the working professionals and investors who want to make more money. The DLT finds use in different business segments like finance, healthcare, education, and others. With expertise in this domain, one can expect their career to take positive growth. So, if you are looking for the best certification program in Blockchain, then Blockchain Council should be your ultimate destination.