Top 10 Blockchain Trends in 2021
1. Banking and Financial Analysis
Top 10 Blockchain Trends in 2021: For the people who have no info about Blockchain, we have to say; it is a digital ledger that distributes all information across its members.
That makes all of its data transparent and immutable, and it makes use of encryption technology to authenticate everyone’s identity. As well as deter hackers.
Blockchain can be instrumental in solving the most prominent problems faced by banking and financial services. Here we can point out some positions in Banking and Financial Analysis that can be achieved by Blockchain.
1- Know Your Client (KYC) expenses
2- Plenty of complicated paperwork
3- Fraud protection
4- Direct payments
By glancing at the current trends. We can only predict even further adoption and development to iron out any implementation bumps. As an interesting point, we can tell you that 77% of fintech businesses plan to use Blockchain and Crypto in 2021. It shows that many people feel good about what it can do. All this shows us that Banking and Financial Analysis can be considered one of the most critical topics. In the list of Top 10 Blockchain Trends in 2021 .
2. Blockchain-based Artificial Intelligence Projects
According to the definition, a Blockchain is a distributed, decentralized, immutable ledger used to store encrypted data. On the other hand, Artificial Intelligence (AI) is a kind of engine or the “Brain”. That enables analytics and decision making according to the collected data.
If you were to use the Blockchain, with all its encrypted information or data, you’d need large amounts of processing power on a computer. The algorithms called hashing algorithms used to mine Bitcoin blocks, for instance, take an approach that is called “Brute Force”.
But what is brute force? The brute force consists of systematically enumerating all possible options for our supposed solution. Then it will check whether each option or candidate satisfies the problem’s statement before verifying a transaction.
In a way, it can be argued that combining Artificial Intelligence with Blockchain can be a very creative idea that has the potential to revolutionize Blockchain.
Artificial Intelligence (AI) may allow us to move away from this and tackle tasks more intelligently and efficiently. Just assume that a machine learning-based algorithm could practically polish its skills in ‘real-time’ if fed the appropriate training data. According to the explanations given. We decided to introduce Blockchain-based Artificial Intelligence Projects as the second item in the list of Top 10 Blockchain Trends in 2021 .
3. Blockchain-Based Voting System
Blockchain is a kind of modern technology. Many people attribute the adjective cutting-edge to this type of technology. It should not be left unmentioned that it has been gaining admiration for cryptocurrency and financial transactions. The Blockchain maintains the transaction process, which can be used to verify the transactional contract’s reliability. This study’s primary effort is the significant accessibility of blockchain-based on other technologies, including the “e-voting” or (electronic voting) system. Specifically, the traditional electronic voting system has various restrictions and challenges for a very long time.
For building a secure electronic voting system, some blockchain-based distributed applications have proposed. That offers flexibility, fairness, and more transparency than the existing system.
One of the reasons we anticipate that in 2021 this issue may turn. Electronic voting into one of the most pivotal currents in the Blockchain is the 2020 US presidential election. Many efforts were made to implement the Blockchain in the 2020 US elections. But the 2020 US election did not use Blockchain technology. As a result, the efforts made in this direction will likely end in 2021. And become a significant trend. For this reason, we consider Blockchain-Based Voting System one of the most critical options in the Top 10 Blockchain Trends in 2021 ‘s list.
4. Construction and Real Estate Top 10 Blockchain Trends in 2021
Blockchain has penetrated everywhere. No wonder we see its uses in the real estate market. In this part, we will mention Construction and Real Estate as one of the critical currents. We will also consider Construction and Real Estate as a member of the list of Top 10 Blockchain Trends in 2021 . So, stay with us.
The technology, which is called decentralized-record-keeping technology designed to instill trust in digital transactions’ authenticity, may be used to create effective solutions for both residential and commercial real estate markets — from buying property to conducting due diligence enabling investments which are called crowd-sourced.
Some big holders are already betting on Blockchain technology. For instance, Real estate giant RE/MAX and several other competitors have entered into several partnerships to explore Blockchain use cases. In contrast, Hilton Worldwide has begun using a blockchain-based property management system.
5. Decentralized Educational Databases
In this part of the Top 10 Blockchain Trends in 2021 ‘s article, we want to discuss Decentralized Educational Databases. Join us to learn the importance of this field. Since the invention of various technologies such as mobile, Internet technologies, etc., education has tended more towards technology-based learning and made the most of its services. In this day and age, there is considerable debate on the field of Blockchain.
This new technology is a decentralized database. It has gained a reputation as a reliable technology since it offers a new approach to information security for all sectors.
There is no data tampering allowed since all nodes on the decentralized P2P (peer-to-peer) network have a copy of the entire ledger. This technology has swept different industry fields such as government, banks, healthcare, and many successful startups have recently been launched. The education sector is also one of these sectors that are going to be impacted by this technology. Universities can utilize this modern technology in both administerial and academic domains. Blockchain has shown its efficiency when applied in academic institutions for technical and also educational purposes, and many universities have already started to adopt and take advantage of its potential outcomes.
6. Decentralized Web Hosting System
Nowadays, DDoS (Distributed Denial of Service) attacks have become a favorite tool for cybercriminals who want to shut down target websites. And they’re easy to stage on centralized systems. Almost everything an attacker has to do is gather enough firepower and direct it to the web servers that host the target website. For staying online, the target has to soar its computing resources, an effort that is costing hosting firms hundreds of millions of dollars every year.
It is interesting to know that Blockchain-based platforms fend off Distributed Denial of Service attacks by replacing servers that are centralized with thousands of nodes, each of which serves as a part of the website. As a result, attackers don’t have a single target to hit.
An instance is Gladius, a Blockchain startup creating a decentralized CDN (content delivery network) and Distributed Denial of Service mitigation system. Gladius uses the Blockchain for distributing the files and assets across tens of thousands of computers that share its network. Whenever users sign up with the Gladius network, it is possible for them to rent out their computer’s idle time, bandwidth, and storage to host websites and receive cryptocurrency in exchange. Thank you for being with us so far in the Top 10 Blockchain Trends in 2021 ‘s article.
7. Top 10 Blockchain Trends in 2021 DEFI (Decentralized finance)
DeFi referred to as Decentralized finance, is related to the shift from traditional, centralized financial systems to p2p finance(peer-to-peer) enabled by decentralized technologies built on the Blockchain of Ethereum. From different platforms such as borrowing and lending to tokenized BTC and Stablecoins, the DeFi is a kind of ecosystem that has launched an expansive network of integrated protocols and financial instruments. But what are the stable coins? In fact, Stablecoins are kinds of cryptocurrencies that designed to minimize the fluctuations of the price of the Stablecoin, relative to some “stable” asset or basket of assets. With over $13B worth of value locked in Ethereum smart contracts, decentralized finance has emerged as the most active part in the space of Blockchain technology, with a wide range of use cases for developers, institutions, and individuals. Stay tuned for more on Top 10 Blockchain Trends in 2021 .
8. Digital Marketing and Adjust Business Strategy
In the last decade, Marketing has changed a lot, but another revolution is about to take place, thanks mainly to the Blockchain. Think about it, while many of us associate digital marketing with things like artificial intelligence and analytics, Blockchain may be the most damaging technology that has ever worked for marketers in any industry. Blockchain technology is changing digital marketing, and you may be wondering who will benefit from this situation. In this part of the Top 10 Blockchain Trends in 2021 ‘s article, we discuss Digital Marketing and Adjust Business Strategy.
The primary purpose of Blockchain in transactions is to make it possible between the two parties without the need for third party approval. Most of the uses of Blockchain have been in finance and cryptocurrencies. But fantastic technology like Blockchain can be beneficial for marketing. At the same time, artificial intelligence and analytics have certainly helped businesses more than consumers. Blockchain may help consumers by empowering users by providing data. It may even help balance the forces. For this reason, it is excellent to pay special attention to this sector in 2021.
9. Environmental and Animal Protection Programs
As the 10th item in the Top 10 Blockchain Trends in 2021 ‘s list. We want to mention Environmental and Animal Protection Programs. This section might be interesting for vegans. So if you are vegan or may become vegan, read this section carefully.
These days, Environmental concerns top the popular political agenda in a lot of countries. There are mass student protests in Switzerland, Belgium, Sweden, and Germany. But the ‘Gilets Jaunes’ of France were also slightly driven by environmental taxes considered too unfair and too high on the working class. Animals loom large in these environmental concerns – either as endangered species or livestock raised in suspicious conditions. Blockchain here can do its part to help.
Before discussing exactly how Blockchain can contribute to animal welfare and how it can protect endangered species. It must be said that Blockchain technology has been severely criticized for helping to contaminate and eradicate the earth. This ideology is mainly because of Blockchain’s best-known application, Bitcoin, which requires a tremendous amount of energy to perform its security, calculations, and encryption tasks. However, we can’t claim that it is definitely true for all Blockchain-based platforms and applications.
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According to many people, especially vegans, human-animal interaction, fisheries, and industrial farms are frequently decried as cruel and unethical. There are some Green labels in supermarkets that inspire little confidence in the consumer. The thing is, they are often window dressing to jack up prices.
However, suppose a customer can access the record of farm animal travel to the market with the help of Blockchain. In that case, it becomes much more challenging for the industry collections to lie and much more comfortable for some companies. Which are called agriculture companies that are invested in ethical consumption, to shine. In 2020, start-ups across the world, especially in the Asia-Pacific region, have begun pilot projects.
10. Disk Space Renting System Top 10 Blockchain Trends in 2021
Recent estimates suggest that the cloud storage market is growing significantly over the next few years. According to reports, the cloud storage market will reach $100 billion by 2022. This market is growing significantly. Various factors, such as increasing internet speed and information security, will explain this increase in demand. One of the most exciting and also interesting things about Blockchain is that it returns valuable data to consumers. This valuable information, which we have to pay companies to store. Will not be made available only to cloud space renters. Blockchain is entering the field in 2021 and revolutionizes the industry. As mentioned in the previous section, power will return to the users. And the Blockchain will create a balance of power. Therefore, this section can be one of the most important members of the ” Top 10 Blockchain Trends in 2021 ” list.