3 ways blockchain technology could further mainstream in 2022

189
SHARES
1.5k
VIEWS


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

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

Related articles

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

HR would possibly pivot towards blockchain

Human useful resource administration is ripe for blockchain integration because of the safety and knowledge storage options provided. Blockchain would permit every worker to have a novel deal with the place all pertinent info might be cryptographically saved.

HR additionally offers with the recruiting and hiring of recent workers, an more and more tough job in at this time’s world the place the labor drive participation fee stands at 61.9%, its lowest degree since 1976.

For blockchain-related jobs, the duty turns into much more difficult because of the restricted variety of individuals 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 initiatives with exterior builders that present specialised companies.

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

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

Payroll additionally falls below the HR class and initiatives like Request (REQ) help a decentralized funds system the place anybody can request a fee and obtain cash by means of safe means.

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

The gig economic system

Experience-sharing companies like Uber and Lyft and creator/freelance marketplaces like Fiverr have been the bedrock of the gig economic system. 2021 estimates present that 36% of america workforce participated within the gig economic system both as their major or secondary supply of revenue. Information 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 might be actively working within the gig economic system or can have accomplished so sooner or later of their profession, so it’s a rising subject that might profit from the combination of blockchain expertise.

One mission that has already established its personal freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is just 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 Chronos.tech, LaborX and PaymentX protocols, the ecosystem has additionally 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 lately integrated with the Cash App.

Different robust contenders within the subject 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 remaining protocol that particularly focuses on creating an enterprise-grade public community that permits people and companies to create decentralized functions (DApps) is Hedera (HBAR).

In keeping with Hedera’s web site, the mission is owned and ruled by a number of the world’s main organizations together with IBM, Boeing, Google, LG and Commonplace Financial institution.

The excessive throughput nature of Hedera’s hashgraph structure makes it perfect for big companies that may require a big quantity of transactions to serve their international consumer base.

These use circumstances embrace fee processing, fraud mitigation, the flexibility to tokenize belongings, verifying id, the safe storage and switch of knowledge and the flexibility to create a personal, permissioned blockchain for in-house use.

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

The views and opinions expressed listed below are solely these of the creator and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it’s best to conduct your personal analysis when making a call.