Wednesday, January 26, 2022
English EN Spanish ES

3 ways blockchain technology could further mainstream in 2022


Related articles

2021 was a breakout 12 months for the cryptocurrency sector and this 12 months is anticipated to see an extension of the “mass adoption” development.

Public consciousness of blockchain expertise is on the rise and a brand new cohort of tasks designed to fill extra area of interest roles in society are more likely to emerge within the coming months.

Three sectors which have the potential to see vital development in 2022 are human sources (HR), worker fee options and platforms that serve the gig financial system by providing company blockchain options.

HR may pivot towards blockchain

Human useful resource administration is ripe for blockchain integration as a result of safety and knowledge storage options supplied. Blockchain would permit every worker to have a singular tackle the place all pertinent data may very well be cryptographically saved.

HR additionally offers with the recruiting and hiring of latest staff, an more and more troublesome process in at this time’s world the place the labor pressure participation price stands at 61.9%, its lowest degree since 1976.

For blockchain-related jobs, the duty turns into much more difficult as a result of restricted variety of folks with the data and capabilities to work within the nascent sector.

Keep3rV1 is one protocol that focuses on connecting employers with workers, and the decentralized job board is particularly designed to attach blockchain tasks with exterior builders that present specialised providers.

KP3R/USDT. 1-day chart. Supply: TradingView

Whereas Keep3rV1 focuses particularly on blockchain developer jobs, if the mannequin proves to be a hit, the idea might simply be expanded to serve a wider viewers of job seekers and employers.

Payroll additionally falls underneath the HR class and tasks like Request (REQ) help a decentralized funds system the place anybody can request a fee and obtain cash via safe means.

This is a perfect setup for freelancers. Experimental platforms like Sablier Finance additionally supply employees the choice to be paid for his or her labor in real-time fairly than look forward to the tip of a payroll interval to obtain their paycheck in a lump sum.

The gig financial system

Trip-sharing providers like Uber and Lyft and creator/freelance marketplaces like Fiverr have been the bedrock of the gig financial system. 2021 estimates present that 36% of the USA workforce participated within the gig financial system both as their major or secondary supply of revenue. Knowledge additionally exhibits that 55% of gig employees have been additionally working a separate major job.

Present projections indicate that by 2023, as much as 52% of the U.S. workforce will probably be actively working within the gig financial system or could have executed so sooner or later of their profession, so it’s a rising area that would profit from the mixing of blockchain expertise.

One venture that has already established its personal freelancer job board is (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is much like web sites like Fiverr however conducts all transactions using blockchain expertise and good contracts.

TIME/USD 1-day chart. Supply: CoinGecko

Along with the, LaborX and PaymentX protocols, the ecosystem has additionally just lately added decentralized finance (DeFi) performance by permitting TIME holders to stake their tokens on the protocol to earn a yield.

Freelancers can stake TIME on the community to obtain bonuses for accomplished duties whereas clients can stake to earn particular rebates as a reward for holding the token.

Associated: Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security

Firms embrace blockchain options

Enterprise-level blockchain-based options are additionally anticipated to thrive in 2022.

Most of the high contenders that provide enterprise options are layer-one blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s layer-two lightning community scaling resolution that was just lately integrated with the Cash App.

Different sturdy contenders within the area of enterprise options embrace Fantom and the Polygon community as a result of they’ve decrease transaction charges and quicker processing capabilities.

FTM/USDT vs. MATIC/USDT 1-day chart. Supply: TradingView

A last protocol that particularly focuses on creating an enterprise-grade public community that enables people and companies to create decentralized functions (DApps) is Hedera (HBAR).

In line with Hedera’s web site, the venture is owned and ruled by among the world’s main organizations together with IBM, Boeing, Google, LG and Normal Financial institution.

The excessive throughput nature of Hedera’s hashgraph structure makes it superb for giant companies that might require a big quantity of transactions to serve their international shopper base.

These use instances embrace fee processing, fraud mitigation, the power to tokenize property, verifying identification, the safe storage and switch of information and the power to create a non-public, permissioned blockchain for in-house use.

Need extra details about buying and selling and investing in crypto markets?

The views and opinions expressed listed here are solely these of the writer and don’t essentially mirror the views of Each funding and buying and selling transfer includes threat, you must conduct your individual analysis when making a choice.