Some Updates on Blockchain and Cryptocurrency to End 2019's ActivitiesScroll Down
The year 2019 did not bring the desired Bitcoin bull run, and there was no Santa Claus Rally to appease traders before New Year's Eve, but there were quite a few positive developments that suggest the future of digital currencies will be bright and active in the near-term. Now that we are entering a new decade, here are some wishes for 2020 with regard to blockchain and financial tokens:
Financial Technology for the Good of Humanity
Valery Vavilov, CEO of the Bitfury blockchain development group, wishes for financial technology to emerge as a positive force in the world. The International Organization for Migration, an agency of the United Nations, has already implemented blockchain technology to monitor the status of Chinese individuals who coerced into forced labor, a situation that should get the attention of President Xi Jingping, a leader who wants China to become a blockchain giant.
A Return to Realistic Valuation
The CEO of ShapeShift, a digital currency trading platform based in Switzerland, would like to see an injection of reality in the markets. For Erik Vorhees, this includes seeing tokens such as Ripple reflecting a valuation that is more in line with the relevance they have achieved in recent years.
More Blockchain Development in the Gaming World
As can be expected, developers at Xpring, a business unit of Ripple Labs, wish to see more video games running on blockchain networks, particularly those that include the purchase and trading of in-game goods and currencies. While there are many casino-style games that accept cryptocurrencies, the gaming world is still hoping to see a major title that puts a blockchain engine to the test; something as big as Fortnite.
A Social Network that Runs on Blockchain to Prevent Misinformation
The scourge of fake news is an issue that Facebook has been unable to control, and this is something that a blockchain implementation could handle by means of smart contracts and identity verification. A social network that relies on blockchain to vet and verify the authenticity of content by means of peer-to-peer confirmation is not an easy project to develop, but it could be done with Ethereum and the right team of coders.