Federated Blockchain Networks. (source), The market capitalization of Bitcoin is expanded from nearly $1.02 billion in Q1 of the year 2013 to approximately $72.37 billion in Q1 of the year 2019. Stablecoins will be more visible. The penetration of the device network and the Internet of Things will become popular in 2020. To avoid that volatility stablecoin came to the picture strongly with stable value associate with each coin. This is one of the future trends of blockchain technology. One can buy Bitcoin from Bitcoin exchanges. Information such as time, date and amount of payment is visible but identities of participating parties are not visible. [1] https://www.mobileappdaily.com/top-emerging-blockchain-trends, [2] https://www.aithority.com/guest-authors/blockchain-technology-in-the-future-7-predictions-for-2020/, [3] https://www.bitdeal.net/blockchain-technology-in-2020, [4] https://medium.com/altcoin-magazine/to-libra-or-not-to-libra-e2d5ddb5455b, [5] https://blockgeeks.com/guides/cosmos-blockchain-2/, [6] https://medium.com/altcoin-magazine/blockchain-and-ai-a-perfect-match-e9e9b7317455, [7] https://medium.com/@banafa/ten-trends-of-iot-in-2020-b23bdebf6cc, Receive the OpenMind newsletter with all the latest contents published on our website, Prof. Ahmed Banafa. The gemstone industry uses this technology in order to ensure transparency, tracing a stone back to its origins so as to ensure the defined stone is real and not the product of conflict mining. *Your comment will be reviewed before being published, This Is How Global Warming Affects the Transmission of Diseases, Technosols: Customised Soils to Revive the Earth and Perhaps Conquer Other Worlds, Securing the Internet of Things (IoT) with Blockchain, Future and Challenges of Wearable Technology, Ventana al Conocimiento (Knowledge Window). Second, blockchain solutions can make the info we publish harder to trace or duplicate. An increase in uncertainty is a big hurdle in front of the good performance of supply chains. First of all, it can prevent things like Facebook – Cambridge Analytica data scandal. But those who get involved adopt a more “pragmatic” and determined approach to projects. One driving force for using stablecoin is the introduction of Facebook’s cryptocurrency “Libra” in 2020 even with all the challenges facing this new cryptocurrency proposed by Facebook and the shrinking circle of partners in libra.org [4]. But they all share the success of the market. The blockchain technology will definitely enhance security of your operations with so many additional benefits. The idea behind the distributed ledger is very interesting to government officials who need to manage large amounts of data. First, it is important to know that Blockchain networks can be classified as: private, public, federated or hybrid. Designing a governance system where all members agree on common issues can be a challenging task. Examples of applications of AI in Blockchain: Smart Computing Power, Creating Diverse Data Sets, Data Protection, Data Monetization, Trusting AI Decision Making [6]. There should be a third-party organization in between so as to make the communication more feasible. These multi-node settings will now be verified, so the transaction can be processed later. Moreover, users will get to store data more securely and maintain their ownership. DeFi can be included in blockchain trends in 2020 which will be more transparent with a better-secured network. Being disintermediated, it creates the permissionless flexible user experience. In addition to this, it takes several days to make a payment between a retailer and a customer, or a manufacturer and a supplier. It is just the basic model of the blockchain, making it suitable for any specific use cases. This makes the user feel more secure as they can control what they want to see. One month into 2020 and the momentum behind blockchain and distributed ledger technology (DLT) continues. It’s clear that blockchain will revolutionize operations and processes in many industries and governments agencies if adopted, but its adoption requires time and efforts, in addition blockchain technology will stimulate people to acquire new skills, traditional business will have to completely reconsider their processes to harvest the maximum benefits from using this promising technology [2]. With the integration of AI (Artificial Intelligence) with blockchain technology will make for a better development. Second, blockchain is decentralized, so there is no single authority that can approve the transactions eliminating Single Point of Failure (SPOF) weakness. Moreover, one can use Bitcoin as the currency over the internet for receiving and making payments. In addition to this, blockchain technology is being also used to address various climate change issues, including food waste and carbon emissions. Blockchain networks are classified into, private, public, federated, … 2020 will radically change direction. The Adoption of Blockchain is likely to grow in 2020. The term blockchain combined can be considered one of the best modern blockchain trends in the industry. All these complexities in the system stem from the diverse and distributed nature of the latest technology. Your comment will be published after validation. According to marketing charts, blockchain potential is yet to be visualized. With the implementation of blockchain, it can be ensured that all the social media published data remain untraceable and cannot be duplicated, even after its deletion. Many IoT based companies adopts blockchain technology for their business solutions. This is a summary of the thoughts that we have explained in this article. How to set up a Private Ethereum Blockchain, The Case for Blockchain in Developing Economies: An Assessment of Africa, Why blockchain may be blockchain’s best cybersecurity option, Build a Verifiably Random Lottery Smart Contract on Ethereum, Everything You Need to Know About Smart Contracts: A Beginner’s Guide, Why Mobile Games and App Stores Should Opt for Blockchain. Cloud-Based solution that allows users to develop their own digital products by working with blockchain new takes... To view and access the data across different blockchain networks can be referred to as one of best! Be consulted at any instant of time by anyone selected group of various nodes will the! Is called the federated blockchain interoperability to stable coins, learn about the latest trends 2020. Digital development another trend for new technologies to emerge in 2020 is called the federated blockchain networks be. 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