5 Blockchain Technology Trends That Will Rule in 2022

How will blockchain technology evolve over the next five years? Find out in this guide to blockchain technology trends in 2022!

1) Public blockchains will be the most popular

According to Statista, there are more than 300 blockchain-based platforms. As much as a quarter of them have been created over just two years. But while there may be lots of options on the market, it seems that public blockchains will be at their peak in terms of popularity by 2022.

Thanks to their wide-ranging usefulness and scalability, they’re thought to be here to stay—and according to Coindesk’s predictions for 2019 and beyond, we should see even more growth for these projects.

Blockchain technology trends indicate that public chains will remain popular by 2022 due to their convenience and reliability. Blockchain technology trends in 2022 show that private blockchain usage is expected to grow but not overtake public blockchain usage.

Blockchain News predicts that private blockchain usage will only account for 15% of total blockchain activity by 2022. This trend can be attributed to several factors including increased security concerns, high costs associated with running a private chain, and a lack of need for such services among enterprises.

The report also indicates that hybrid blockchains will become increasingly popular with businesses as well because they offer all of the benefits of both private and public networks without sacrificing any functionality or efficiency.

2) Private blockchains will grow

The rise of private blockchains seems inevitable for 2017 and beyond. There’s already a push to apply blockchain technology to existing enterprise solutions. While this may seem counterproductive, it makes perfect sense—private blockchains can provide better security than public chains because the information is not widely shared.

As big players like Microsoft and IBM realize that all parties involved must be privy to information on a blockchain system (for example, Uber drivers need to know where they can pick up passengers), these companies are turning to private solutions.

This will increase interest in developing private blockchains and encourage more enterprise-friendly solutions like Hyperledger. We should expect to see more enterprise applications being built on top of private blockchains.

3) The tech giants will get involved

Tech giants such as IBM, Google, and Microsoft have all staked their claims on blockchain technology. Some of them are more actively involved than others, but none of them will be standing still. Even if they’re not creating new decentralized applications (DApps), they’ll be paying close attention to how things develop, as well as investing heavily into applications that are currently under development.

This is no surprise—you don’t make moves like Amazon Web Services partnering with ConsenSys and R3 joining Hyperledger without having plans to get deeply involved. We expect companies like Apple, Samsung, Facebook, and Uber to start getting involved in 2021-2022 when it becomes clear that there’s money to be made by doing so.

However, these tech giants won’t fully embrace blockchain until 2023 or 2024 because their primary focus at first will be on smart contracts.

The blockchain will become a secure system for data storage: The reason why cloud computing has taken off over the past decade is that storing data in a centralized location provides an easy way for multiple users to access information without worrying about maintaining their copies.

By 2020, blockchain technology will offer similar benefits while also providing additional security due to its decentralized nature. At that point, we’ll see several major corporations use blockchains as security systems for storing valuable information such as patents and trademarks. The best part?

4) Decentralized storage will become mainstream

Currently, when you use a cloud storage system such as DropBox or Google Drive, you put your trust in them to store and manage your files for you. In a decentralized storage network, however, users host and manage their data by connecting their computers to a peer-to-peer (P2P) network.

That means there’s no longer one central server with proprietary information at risk of being hacked. However, if your computer is maliciously compromised by an outsider or insider threat—or doesn’t have enough storage space for all of your documents—you might lose some of that data.

Encryption won’t be enough to protect against these vulnerabilities. As a result, decentralized storage will become more secure than centralized storage systems. While decentralized storage has been around since 2008, it hasn’t seen widespread adoption because it isn’t as easy to use.

But expect things to change soon: Companies like Storj are working on making P2P networks easier to use while keeping them secure. And new platforms like Plexr are creating applications that make storing large amounts of data much easier than before.

5) Security tokens will continue to rise

In 2019, security tokens will prove to be an excellent alternative to Initial Coin Offerings (ICOs) for raising capital. Security tokens differ from utility tokens as they grant their holders equity-like rights and are backed by real assets. For example, tokenized property or stocks.

Security tokens offer more legitimacy and protection for investors compared to utility-based ICOs. They also allow investors to take advantage of blockchain’s efficiency and speed with real investments which is something that has not been possible until now.

More companies will start using security token offerings over traditional equity or debt offerings since it ensures investor protection while being more cost-effective than going public on a stock exchange or selling bonds, among other advantages.

For instance, supply chain management: Due to blockchain technology having capabilities like transparent record-keeping and secure data sharing across industries, it could provide a solution for issues related to supply chain management.

Currently, issues like counterfeit goods can go undetected within supply chains because there isn’t enough information sharing between parties involved.

Blockchain technology trends have evolved rapidly over time and have become a permanent part of our lives today. Blockchain technology trends will continue to develop in various areas such as smart contracts, digital identity, payments, etc., and we should expect them to impact us significantly in upcoming years.

Blockchain technology trends are likely to change how business is done globally; however, blockchain experts need to collaborate closely with each other so that blockchain innovation continues at its current pace rather than slowing down due to a lack of collaboration between people working on different aspects of blockchain development.

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