MIT: Blockchain Boring but Useful in 2019

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MIT: Blockchain Boring but Useful in 2019

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An article published by MIT Technology Review claims blockchain technology will ”start to become mundane” in 2019, but also ”more useful.”

Framing 2018 as a disappointing year for blockchain, based on the poor performance of the cryptocurrency market. The review published by the Massachusetts Institute of Technology- (MIT) owned website says 2019 will become the year blockchain technology becomes normalized following the developments of major corporations in the sector.

Giving examples of the New York Stock Exchange on Wall Street and American retail outlet Walmart, the commentary predicts both will act as a catalyst for making 2019 ”the year that blockchain technology finally becomes normal.”

The emergence of state-backed digital currencies and smart contracts are also offered as positive indicators for the year ahead in blockchain, with the former contemplated to be the opposite of what the original cryptocurrency revolutionaries envisaged for their creations. Venezuela’s own Petro token is labeled ”either a scam or a flop,” although a more promising perspective is given to the other 15 or so central banks looking into issuing their own digital currencies.

While the article acknowledges that the hype surrounding the technology is subsiding, it appreciates that the forthcoming developments will help push it into the mainstream purview.

 

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