Crypto platforms like Jasmy are setting the stage for 2023-24, putting the spotlight on Blockchain as the preferred technology for brands, consumers, and governments.
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Blockchain technology is already regarded as a significant component of the ongoing wave of digital disruptions as technological advancements are trying to make the web equally beneficial for brands and consumers. Blockchain-enabled applications are increasingly engaging in comparison as cryptocurrencies are being acknowledged for their ability to help people maintain more ownership of their personal data, including financial details. As crypto companies set up more collaborations, working in sectors as varied as healthcare, e-commerce, insurance, publishing, and finance, industry analysts are realizing that despite more introspection, Blockchain, as a mainstream technology in different organizational or consumer-focused domains does not seem to have any limitations or striking drawbacks.
According to a recent study by Grand View Research, the global blockchain tech market is projected to reach $1,432 billion by 2030 and maintain a Compound Annual Growth Rate (CAGR) of more than 85% between 2022 and 2030.
Some notable trends are making blockchain technology grab attention in 2023. This includes the adoption of green tech where institutional green initiatives are being made more practical for businesses via blockchain. The increasing popularity of Non-Fungible Tokens (NFTs) has achieved global proportion and mainstream acceptance is coming through faster. Recently, Hong Kong opened the doors to crypto ownership and trading, in stark contrast to China which continues to have some reservations about crypto trading and funding. The development of Metaverse in 2023 is growing and the advancements are indicating that blockchain technology is going to become more enduring.
The contemporary tech landscape is not averse to using innovative tools and digital assets that can be traded, a promise of digital ownership, and more regulatory compliance for blockchain suggests an enterprise and consumer-level ecosystem where blockchain will be as vital as quantum computing or AI.
A recent industry collaboration that could make these sentiments stronger includes Jasmy which continues to grow as an Asian crypto brand and AVITA which is an Asia-Pacific major in delivering digital solutions. This collaboration is noteworthy because a crypto platform’s IoT technologies will become a part of laptops that will offer people a truly secure PC. This partnership also hints at the emergence of Device as a Service which is still somewhat nascent in the global context but could be a game changer in 2024. Such industry partnerships highlight that blockchain-fueled efficiencies are being sought by different types of businesses and not just fin-tech companies. When a crypto company like Jasmy offers the promise of a secure IoT platform, the usability of such an IT tool has relevant applications across many verticals.
“Under the motto Do what giant corporations can’t do, AVITA is building an ecosystem where better lives and more reliable digital experiences are achieved through integrated, state-of-the-art technology…,” says Alex Chung, CEO of AVITA Technologies.
Cryptocurrency brands, like JASMY, are helping people realize the importance and inclusion of data democratization. Web 3.0 too promises the same but crypto companies are perhaps taking the lead by creating an environment where individuals remain the original and eventual owners of their data. When such crypto owners share their own experiences, others can easily understand why blockchain in crypto should be routed to their own data interactions in an increasingly digital world.
The emerging web, 3.0, has been vocal about democratizing data and when crypto platforms like Jasmy adopt the concept and put a decentralized technology into motion, the worth of using blockchain to do a lot more than create crypto assets comes through with more transparency. Blockchain-related queries about the worth of Personal Data Lockers tend to answer themselves as individuals realize the benefits of storing their information in an environment that the biggest corporates cannot breach.
It is expected that by 2025, there will be nearly 4 billion social network users globally, and even in this interactive environment, blockchain could help to optimize social networks, solving inherent problems along the way, such as privacy breaches. Tokenization means more data control, less data-based targeted advertising, and more content authenticity. The e-commerce industry has not been shy of blockchain technologies—the tech has made inroads in complex supply chains, providing better management and control to e-commerce business managers. For shoppers across online marketplaces, blockchain could provide more customer data protection.
Yes, blockchain might have made the first, big splash in crypto finance but it is also capable of making its presence felt in the food and logistical industries. Any industry that needs better traceability solutions without creating any new risk to its data, can benefit from digital tokenization that drives blockchain. Trends indicate that technology provides more control over a product’s journey, right from its procurement to manufacturing and shipping. This could solve some typical manufacturing troubles such as counterfeiting in semiconductors. There is a certain degree of attention in Japan which seems to have taken the lead in creating more ownership controls to comply with stringent SEMI international standards for traceability in the supply chain of semiconductors and also happens to be where crypto brands like Jasmy are advocating the data democracy attributes of using blockchain.
Using its native P2P network capabilities, blockchain platforms use nodes where a few nodes failing don’t present a safety threat. Famous cryptocurrencies like Bitcoin pioneered using blockchain technology and it continues to do so without depending on centralized servers.
As the crypto community expands, inspiring more trust in blockchain, the new wave of digital transformation in 2024 could see the tech help create a better, more regulated, and easier-to-control market for carbon credits. Blockchain traceability makes sense for managing carbon credits, and with more governments realizing the worth of controlling carbon footprints, blockchain-enabled carbon credits could become the new standard.
This is not based on optimistic thinking but because of initiatives like the Katingan Project forest conservation project of Kalimantan, in Indonesia, where some companies are buying carbon credits but better certification and streamlining of the process could provide everybody more accuracy, stimulating a regulated distribution market and blockchain seems to have the answers for such initiatives as we move into the latter half of 2023.
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