The cryptocurrencies, as well as the blockchain could attract large companies and transform from education, transport and other sectors, in addition to helping to combat climate change and protect the safety of users.
Don Tapscott, who along with Alex Tapscott- co-author of Blockchain Revolution-, predicted that bitcoin would exceed $ 2,000 and the currency did and even went up even more to $ 19,511, now brings these 10 predictions for this and other cryptocurrencies in this year that is just beginning.
1. Your value will continue to grow
The cryptocurrencies will continue to register positive results and although they will also have their moments of volatility, in general, they will increase their value, according to the co-founder of Blockchain Research Institute.
The stratospheric increase in the price of bitcoin makes it easier for new investors to justify intervention, since there is now a large asset class too large to ignore. So in 2018 there will be purchases of bitcoin and other currencies by financial institutions, but buyers should be careful: for bitcoin to maintain its rally, the challenges on its regulation must be resolved.
So you will see an avalanche of institutions, retailers and other family businesses entering the market of cryptocurrencies. Many people and organizations have not invested for security reasons, although this problem is already being addressed, Coinbase has vaults where cryptographic assets can be stored, and new markets are being created, such as funds and futures operations based on bitcoins that are offered by financial services companies.
But in the next few years, most of the cryptocurrencies could be overcome by platforms that have a more powerful functionality as many high-tech companies were displaced by dotcoms and these by powerful new companies like Amazon, Google and Facebook.
2. It would transform the industries
Blockchain Research Institute is currently investigating how the Blockchain would transform these 10 industries: financial services, retail and consumer goods, government and democracy, energy, higher education, transportation, manufacturing, media and telecommunications, technology, health and resources.
According to the expert, supply chains, an industry that generates 60 billion dollars and includes giants such as Foxconn and Walmart, are examining the blockchain to carry out transformations.
3. A value platform will be created
According to the analyst, bitcoin and ethereum could continue to grow, not only in terms of value, but also in the number of platforms that help solve problems such as scalability, interoperability and governability.
By 2018, platforms such as Cosmos, Aion, ICON and Polkadot could stand out, which are different since they have been designed to overcome many of the existing bottlenecks. These so-called 'third generation blockchains' are unique in that they aim to be multi-active and multi-company.
4. ICOs could be transformed
The Initial Offers of Currencies, also called ICO or OIC, and through which the companies manage to obtain financing with cryptocurrencies have been considered as a way to allow financing for innovation.
In 2018, there will be many opportunities for ICOs with tokens, digital units that can represent a currency, a property, an action or any value in the real world, currently there are product tokens, loyalty tokens or social tokens such as carbon credits . And although they are still in development, it is expected that these tokens can represent financial assets such as stocks, bonds and futures contracts.
5. Anyone can monetize their digital identities
Currently, social network companies, search engines, governments, banks, etc. monetize the digital identity of people, but with blockchain, people can possess unique identities and save them in a "digital black box", which would also help users protect their privacy. Such blockchain identities are on the way from multiple sources.
Do not lose sight of the uPort companies of ConsenSys, Civic or Sovrin that seek to provide people with authority and autonomy over their identity.
6. Digital conglomerates adopt cryptocurrencies
There is no doubt that blockchain technology represents an existential threat for the largest digital conglomerates in the world, but this year we will see that these companies adopt cryptocurrencies, and even blockchain technology.
On December 12, it was announced that David Marcus, the head of Messenger on Facebook, would join the Coinbase board. According to the expert, there is no doubt that Facebook is exploring payments with cryptocurrencies within the Facebook Messenger platform or some other initiative related to tokens.
Surely that would not be the only acquisition of a blockchain company by an important digital conglomerate. Google is already the second largest investor in blockchain technologies this year, and we can expect it to continue as public interest in blockchain explodes.
7. Fiat cryptocurrencies
2017 brought some attempts, such as the one in Venezuela, to have its own cryptocurrencies, but many of these so-called fiat cryptocurrencies were only attempts by governments to appear innovative and undermine independent cryptocurrencies, although in 2018, real initiatives are expected to advance with countries such as Switzerland, Singapore, Canada, India, Estonia, South Korea, Japan and the United Kingdom.
Meanwhile, bitcoin and other cryptocurrencies are expected to deepen their usefulness as a true medium of exchange. There are thousands of large or medium companies that already accept bitcoin for the payment of goods and services such as Overstock.com, Newegg, Shopify.com, Dish Network and even Microsoft and Paypal.
Evidence suggests that in 2018 a growing number of retailers and service providers will accept bitcoin and cryptocurrencies in general as payment. This could include Facebook and Amazon.com.
8. Regulatory fever
In 2017, blockchain and cryptocurrencies became too big to ignore and by 2018, they will become too big to fail.
In the United States, the Securities and Exchange Commission (SEC) has argued that some, but not all cryptocurrencies are securities.
Although SEC Chairman Jay Clayton urged investors to take "extreme caution," he also said: "I think initial offers of currencies - whether they represent offers of securities or not - can have effective ways for entrepreneurs and others raise funds.
9. Cryptocurrencies against climate change
According to the Blockchain Research Institute specialist it is time to commercialize energy tokens generated from sustainable sources. Companies such as Spectral Energy in the Netherlands and LO3 Energy and Grid in the United States are leading the way.
Companies like CarbonX Personal Carbon Trading and Zerofootprint Software allow and reward people to manage their personal carbon footprint.
10. The cryptorsilience
The more attacks cryptocurrencies receive, the stronger they become. China bans ICOs and hints at affecting bitcoin exchanges, which increases the value of the currency. The ethereum has also been attacked and has taken hundreds of steps to become more robust and safe.
