Companies and huge tech giants are discussing mostly blockchain technologies and a lot of companies are doing research on blockchain technologies and the popularity for blockchain is very high. Blockchain technology is yet to be in the mind of company executives, technical specialists & etc. The development over the past several years is really breathtaking. Notwithstanding the comments of the hateful critics about the overestimation of this phenomenon. It is still at the starting of its journey and can contribute a lot to the market.
What you are demanding from this technology in 2019. We analysed different predictions, articles and analytics reports and provides you about the latest trends in blockchain technology in 2019.
Blockchain development was at the top of its hype in 2017 and according to the statement given by the McKinsey, the underlying technology followed by the bitcoin revolutions would create new business ecosystems to the count of over $50 trillion by the year of 2025.
At present enterprises like kodak who are failed in the year 1990 to capitalize on the digital revolutions are now arranging ICOs and planning new ecosystems. Presently degraded king in the photography business- Kodak is now thinking for a resurgence with KODAKOne. It is an image rights management platform depending upon the blockchain technology with the help of WENN digital.
In the same way, various companies will see advantages after using blockchain technology. With the latest and new ecosystems will be beneficial to companies and consumers by the commitment s of the blockchain technology.
Apart from cryptocurrency, Blockchain is also helpful for various transactions such as agreements and contracts. Several companies are introducing the need of Ricardian contract at the time of dealing with multiple apps in 2019. It has more or less functions as an original contract and this is humanly readable agreement, which indicates that both parties accept the collection of terms and have signed it with respect. These terms are converted into a machine-readable contract that forces both parties to their respective terms. If one party does not achieve their responsibilities and the other may bring them to the court. These are very reliable and less prone, unlike smart contracts. In ICO's blockchain technology contract developed by the Ethereum regularly used.
Tokenization of Financial Assets
One essential characteristic of the blockchain network is the case that data is stored on its immutable. This indicates that data or any transactions that are added cannot be removed or tampered. This feature will obtain unbelievable usage in 2019 with the tokenization of digital assets.
In reality, blockchain tokenization can also utilize physical assets like real estate. See this and understand how it would work. Say for instance if you have a physical asset and the value for that asset is $100,000. This asset can be tokenized on a blockchain technology and represented as a 100,000 tokens.
Now a buyer can buy some amount of this token to own a particular percentage of this tokens which are the digital representations of physical assets. If they buy 40% means they own 40,000 tokens of that asset.
The transaction data that happens to this ownership is done through an agreement method and ultimately become an immutable record on a blockchain network. It has some limitations with the consideration of legal aspects. You will see new rules and regulations in the year 2019 for helping and controlling the tokenization through the blockchain.
Consortiums become clearer
The word 'consortium looks to get more airtime in connection to blockchain than ever before. Blockchain networks strive to grow or trigger the all essential network effect without collaboration.
It is not simple to set the thing up to high and fast product development, as well as mobilizing the business venture or consortium when you are organizing governance models throughout the shared data and distributed systems.
Experience and expertise to manage the projects from a POC phase to pilot and then the production-ready extract is becoming so important. So companies and people that understand this stuff and have done it before will be the ones to gives consortiums greater accuracy and certainty this year.
Huge Investment Opportunities
There is a possibility to present and follow the investments that have been preserve of institutional investors and the wealthy through blockchain technology.
For example, tokenization lowers the bar to entry for investment in property, doubtless permitting additional liquid mercantilism of high-value assets and permitting additional people a slice of the pie of the expansion (or losses) they will generate. Regulation is going to be required before these investment opportunities are going to be thought of safe enough for everyday investors to require half, and as we’ve seen over the last year, this actually appears to get on its manner.
Art, fine wines and samples of investment assets that historically were solely a possibility for well-off investors with the luxurious of having the ability to place capital in up-front and be in no hurry for his or her investment to pay off. With regulation in, everyday investors should buy digitally-backed “shares” in these quality categories and sell them off after they got to liquidate their funds.
Additionally, blockchain based smart contracts are designed to minimize the dependence on middlemen like brokers and lawyers when setting these transactions, further decreasing the costs and restrictions to entry.