Blockchain is one of the the most exciting tech trend at the moment it is a distributed encrypted database model that have the potential to solve many problems around online trust and security many people know this as the technology that underpins bitcoin and cryptocurrencies however its potential users are far broader in encompassing digital smart contracts logistics and supply chain provenance ownership verification and countless others.
During 2022 spending on blockchain solutions by businesses is forcast to hit almost 12 billion dollars so here are the biggest blockchain trends for 2022
Blockchain use a lot of energy and therefor creates high level of carbon imissions in 2022 we are likely to see a great deal of emphasis on attempts to greenify blockchain and we can obvioisly do that by using more renewable energy and we are seeing this with blockchain mining companies iceland for example that use renewable energy then we have the option offsetting which i do not really like because it feels like you are just patching a wound that should not rally have been caused in the first place a key part of this will be to a less energy intensive model of blockchain technology which is proof of stake algorithms rather then proof of work which use a lot more energy
We will see it expand beyond just the online art world so non fungible tokens or nfts for short as of the big news in blockchain in 2021 we have seen astronomical prices being paid for artwork such as peoples the first 5000 days which created plenty of headlines in 2021 and we have seen this taken off in music world too with kings of leon, Shawn Mendes, Snoop Dogg all releasing tracks in nft formats but this will go beyond just the art world and yes how can we forget about nfts in gaming which are starting to be a big thing so the monster breeding game 'Axie Infinity' allow players to mint there own nfts creatures to send into battles. Fashion companies like dolce and gabbana and nike have both created clothing and footwear that comes with there own nfts.
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More countries will adopt bitcoin and national crypto-currencies 2021 saw El Salvador become among the first nations to adopt bitcoin as legal tender and driven by global inflation and growing remittance fees from financial organisations it is very likely that we will see other countries do the same national crypto-currencies where central banks create there own coins that they can be in control rather then adopting existing decentralized coins are also another area where we see a lot of growth in 2022 the UK government is working one called the brit coin and also China, Singapore, Tunisia and Ecuador have alredy launched their with more including Japan, Russia, Sweden and Estonia likely to join soon.
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