The first quarter is coming to an end and we cannot help but imagine what the year 2019 might hold for the Blockchain Industry. That being said, here we gather the thoughts and opinions of the Humans of Blockchain about the year 2019 and what it might hold for the Blockchain Industry. Learn more through this Industry-Wide opinion article.
*These opinions do not necessarily represent the views of Humans of Blockchain ™
Tip – You can click each Human’s picture to be redirected to our list of Humans of Blockchain and/or you can also click their names to be redirected to their LinkedIn profiles.
“ For Lisk itself, we will release our SDK as an Alpha version which will enable a developer to spin up a Blockchain, do custom transactions, to play around, basically build a simple application. This is a major step for us, we have worked on this for years, and it’s such a great feeling to see it finally come alive. So this is all what we are about for the year, pushing out the SDK, refining it, establishing a feedback loop with the community to see what we need to change or improve in the SDK but it will also build our first use cases. Without uses cases we are nothing, we can have the best tools but if no one is using the tools then we have nothing. We really want to partner up with Businesses and Developers to build use cases which make sense to the world. We will be building our first use case internally as part of a Hackathon, and eventually, phase it out.
In general, we see a lot of progress in terms of technology, people are developing, things are finally getting in place, rhythms have established, people are not losing themselves at crazy parties or a lot of money, they are just working hard to, maybe, go back to the point where the prices were skyrocketing, but right now we see many people who are the hardcore believers of the Blockchain Technology. Last year there were a lot of people who just thought that they were gonna be rich. Not so much anymore today haha. This is a positive step towards building a better future. And the Bear Market is actually good because the Hard times break us but they also make us. “
” I’m the “proof of concept” that, education in our hands, with today’s access to information, and having the right tools, the opportunities we can create for ourselves are incredible! The possibilities are endless in Blockchain. I was raised in Mexico and I saw firsthand the enormous impact on my grandmother’s life of never having the opportunity to learn how to read and write or have a bank account. I have always wondered how life would turn out for her if she had the opportunity to be included and make decisions about her own education. Today thanks to inclusion and education, I’m helping people discover Blockchain technology, in Europe, in my third language. “
” Hopefully, we’ll see more quality content and less pay-to-play. Many publications are starting to accept quality, educational articles but this wasn’t the case in the Summer of 2018 or before that. Everything was mostly pay-to-play, no matter how much value the article added to their readers.
The hype period was great and I believe needed for emerging technology, but I am glad we’re past that point and now we can focus on developing useful products and services that can drive real world-wide adoption.
I am also hoping that blockchain startups will find a balance between focusing on development and pouring money into marketing their product. PR is a long-term, branding strategy – you can’t do it for three months, stop for five and then start again for two more months. It could end up being even more expensive because you’ll lose most of the connections during the break.
Sure, you can’t allocate the same budget all the time as during a mainnet or product launch, but if startups want to one day become brands, especially mainstream brands, they can’t neglect PR.
PR is a big part of branding and I totally support what Gary Vaynerchuck preaches that “if you don’t focus on becoming a brand, you may not exist in the (near) future.” Brands will be all that there’s left and there’s no better sales strategy than focusing most of your efforts on branding. “
” Every nerd chatting on IRC thought our video game “money” it would be useful in real life…. 10 years later we saw Bitcoin emerge. 20 years later, here we are; banks, governments, major corporations, and other ‘whales’ driving the economy desperately want this technology for profiting, transparency, privacy, and other reasons… I see 2019 being the ‘IT’ year for blockchain and related technologies. “
” The ecosystem is growing up, and financial market infrastructure is being built for tokenized assets. This year we will see securities tokens being recorded on Corda. “
” 2017 and the beginning of 2018 saw a lot of fraudulent activity in the ICO space, and retail investors who wanted to get into crypto without truly understanding the underlying technology got burnt because they couldn’t discern between good and bad projects.
I believe those days are gone. Venture capital money is moving into backing Blockchain projects and VCs bring depth and expertise much needed in the nascent crypto market.
I believe 2019 will be a year where the market continues to mature, we will see quite a few Blockchain projects prove their value, just like these projects my sister emailed me about a few days ago. In 2019 or early 2020, we will clear Gartner’s technological ‘Trough of Disillusionment’ and that’s when the real opportunities will emerge. Patience. “
” It’s going to be a year of great change like all the others.
What we have seen is mass consolidation in crypto-markets, we are now gonna see mass consolidation, I believe, at the protocol layer. I think that dapps and development will start to more or less accrue to dominant change with a lot more business-savvy and technical development. We are gonna see the beginning of the rise of Security Tokens (STOs), Stablecoins will continue to be an increasingly dominant factor, and I think that we are gonna see Data. Crypto Data becoming an increasingly successful market.
Overall it’s going to be an interestingly successful year. “
” The future looks quite promising for blockchain technology. We expect to see a great deal of innovation far into the future. Blockchain began as a decentralized ledger system to record financial transactions and it would not be surprising to witness the most useful implementation in fields as diverse as A.I. and IoT. Immutability, speed, security and processing power of blockchain will be integral in the development of associated technologies. Some organizations, though, are keeping blockchain at arm’s length because it has a bit of a reputation problem, linked to the general misconception that blockchain is just another word for cryptocurrency. Thus, for blockchain adoption to fully happen, the industry will need to better educate on the differences between blockchain and cryptocurrency, and the possibilities of what we can do with blockchain outside of financial transactions. “
” In 2019 we’ll see BTC and ETH still bearing but, on the other side, companies will increase the investment in technology and people will get more confident with blockchain than cryptocurrencies. “
” 2019 holds many opportunities for those working in the industry. Without the hype, the industry can focus more realistically on value creation rather than simply trying to strive for ideals without tackling the necessary intermediate steps. I have expressed my feelings in my recent CoinDesk article “Crypto Is Down, So Why Am I Smiling? ”
” We do see the year 2019 to be a great year. We are very much focused on Ethereum and the emergence of what the people call Decentralised or Open Finance. And it is very much exciting for exchanges to share liquidity and we think prediction markets can be considered as glue where in some cases it can hold things together. Also, an emphasis on Derivative products to make everything work nicer together. That’s one trend, another trend we are quite excited about are DAOs (Decentralised Autonomous Organisation). A lot of those platforms still have to make a trade-off because being completely decentralized means you can never change it, you can never upgrade it or you have the ability to upgrade it (then it’s not really decentralized haha). The sweet spot in between is having it controlled by a DAO which gives you those abilities. “
” The previous year, 2018 was not an easy year for Cryptocurrency and Blockchain innovation. In diverse ways, it can still be regarded as a good year because Blockchain was finally known as a distinct idea from Cryptocurrency. However, 2019 seems to be much more promising for the Blockchain and Cryptocurrency technology as more companies and known brands are taking a step venturing into the Blockchain sphere. “
“ I think privacy is one of the more important aspects and there are a lot of projects trying to build something in that area. And it is important for everyone to realize that most of the Blockchain projects are not giving any privacy if they are permission based. So this is number one, Privacy and number two we will see a lot of empty projects, scams and fake projects disappear. The projects with substance will remain. Because the past couple of years, money was just flowing freely in the industry which was not good, so the good projects will remain and the weaker ones will disappear. “
” 2019, I don’t anticipate it being like a Blockbuster year from a markets perspective but I think from like actual products being built and potentially adopted, I am actually pretty Bullish. I think that a lot of the teams that have been working for a long time have a much deeper understanding of the space and of the technology and of what it takes for adoption. So, the companies that have survived, this is gonna be the year where they really have to execute. I actually think that those types of constraints like Survival is one of the best motivators. I am actually really bullish that we will see some really exciting products. “
” Yes, it’s over-exposed right now. Bet you didn’t see that coming! I think there’s a lot of angst over whether or not it will succeed, and people want to keep talking about it. It will because the market wants it to. There’s a great quote I first heard from George Soros: “markets don’t predict the future, they create it.” We’re seeing that now with what, upwards of a hundred billion in US dollars committed to blockchain if you added up all the public and private investments, and implementations taking place at large enterprise? It doesn’t have to be this way, but it will because the market is applying the necessary resources to make it happen. Call it “financial brute force” if you will, but it’s a question of “how” not “if” at this point. Blockchains will be the best they can be, and will form the core “truth” in the system, working collaboratively with real-time bandwidth delivery and data analytics to enable greater efficiencies in all sorts of functional requirements like KYC, AML, credit scoring, payment, and settlement, audit, and tax. The global financial system overall will be far less expensive to use, and thus less exclusionary. “
” What excites me is that we can solve the biggest challenge of AI – shortage of data due to privacy concerns – using tools from blockchain. We can have our cake and eat it too: get the data without compromising privacy. This unlocks amazing applications. Here’s one of my dreams: a friend of mine builds AI models to predict cancer, with a dataset of 100 people. With thousands of input variables. The result is that the AI models are pretty terrible, which means it’s hard to detect cancer early. What if we can build from a dataset of 100 million people? While preserving privacy. Ocean unlocks this! This can save countless lives. And that’s just one application of Ocean. There are dozens or perhaps hundreds like this.
We can use Ocean to scale AI for good 😀 “
” I’m so excited about 2019. The adoption will keep growing, the technology will keep evolving and the real value of Blockchain will improve, making good projects stronger to impact the market and the real world, with competitive advantages over traditional companies. That will generate more and more adoption and nobody can stop it.
The bear market seems close to be over, an accumulation phase is starting and the perspective of another bull run is in the mind of many people. The psychology is so important for the markets. And 2019 could be the year of regulations and the opening of the first institutional doors. If we put all these possible facts together, the perspective of the new year is really optimistic to me. “