One of the most interesting technological phenomena right now is blockchain. Currently, blockchain is popular. The industry's CAGR from 2019 to 2025 is astounding above 69%. Business investment in blockchain technology will reach $11.7 billion in 2022. Blockchain technology is now applicable to a wide range of use cases that call for decentralized data storage and accessibility, thus it is no longer just crucial for cryptocurrencies.
First, the amount of investment in blockchain technology is probably going to increase in the upcoming year. Finance will undoubtedly see the most significant adoption, as it is predicted that by 2026, blockchain use in the financial sector would be worth 22.5 billion US dollars. But, blockchain investment will also spread into creative fields outside of finance. For instance, it is predicted that by 2025, spending on blockchain in the healthcare industry will reach $5.61 billion.
Here are the Top Blockchain technology trends that will impact more and more lives in 2023.
Blockchain in Social media
Blockchain in Real estate
Blockchain in retail
Blockchain in Banking and Finance
Blockchain in Social media
As if social media weren't already widely used enough, blockchain will start to coexist with it. User identity verification and marketplace verification are two key social media-related blockchain technology trends in 2022.
It's no secret that bots are a problem on social media sites. This is a marketing problem as much as a political problem. Because marketers waste time on inactive profiles, there is an increasing need for user identity verification using blockchain technology and smart contracts.
Blockchain in Real estate
One of the factors driving the continued growth of blockchain technology is the reliance on an innate system of trust. Due to the need for reliable solutions in the real estate industry, blockchain technology is excellent for smart contracts and transparent ledger functionality.
Blockchain will help bridge the gap between the numerous ambiguous intermediaries in real estate operations. Millions of investors will have access to fractional property ownership thanks to the developing blockchain technology. Here in the UK, we are beginning to see more decentralized entities advance in the auction and other real estate business/finance models, says Property Solvers' Ruban Selvanayagam.
Blockchain in retail
The supply chain industry will be impacted by blockchain technology trends in 2022 as a result of a greater focus on transactions. In recent years, supply chains have grown exceedingly complicated. Due to the complexity of sending and receiving funds, authorities have a difficult time tracking down illicit behavior. Moreover, inventory management between a manufacturer, merchant, and supplier might obscure illegal conduct. The middlemen in supply chain management create a lot of ambiguity for the government as well as the responsible merchants.
Blockchain in Banking and Finance
The number of people who trust blockchain over the banking system is growing. Blockchain is increasingly being used by banks as a strategy to win and keep the trust and loyalty of its clients. Similar to retail, unchanging services without human involvement and quick transactions are necessities rather than profit-making luxuries.
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