HONG KONG, CHINA/ACCESSWIRE/May 9, 2022/Tailor Insight, the Asia-based market research institute, has released a report on “Top Blockchain and Crypto Trends in 2022”. In 2022, it is unexpected that the De-Fi market will explode, as well as that of NFT. Additionally, a growing number of traditional financial organizations are entering the crypto scene, increasingly believing that crypto is here to stay. Here are some interesting blockchain industry trends:

Firstly, Blockchain technology appears to be the most suitable route to the various challenges of 5G IoT

This can potentially help solve many issues related to security as well as scalability due to the encrypted and immutable automated nature of blockchain. We expect to hear more pilots and initial use cases in this area in 2022.

Metaverse application is another major blockchain trend in 2002

The metaverse is the emerging universe where there will be “immersive” experiences with new technologies like blockchain, augmented reality, virtual reality, etc. Without blockchain technology, the metaverse would be incomplete as everything would be stored in the centralized network.

Blockchain will enable the advent of a new wave of social networks that could be bigger and even better than the existing ones that are now synonymous with the word social media. Blockchain in 2022 is expected to run multiple platforms on Metaverse with NFTs and cryptocurrencies. Digital assets such as NFTs will thus define ownership on the metaverse and cryptocurrencies will power the new digital economy.

CBDCs are becoming popular

According to the Bank for International Settlements, 80% of the world’s central banks are now exploring Central Bank Digital Currency (CBDC) projects in 2021, the year 2022 will see another breakthrough. Governments around the world are realizing that cryptocurrencies are here to stay and the majority of CBDCs are introduced to ensure that their monetary system remains fit for consumer demands and not necessarily to eradicate the use of bitcoin and others private cryptocurrencies.

The story continues

De-Fi is rapidly emerging as a transparent, permissionless medium for users.

This year, the value of assets in De-Fi has reached over $180 billion and it is expected to increase further in 2022. As there is a growing need to replicate the properties of physical objects like the uniqueness, proof of ownership, we will see further adoption of the De-Fi market as well as the arrival of more dedicated De-Fi applications. Upcoming regulation, along with the growing acceptance that crypto is here to stay, could in the longer term lead to greater convergence between traditional or centralized finance (CeFi) and decentralized finance (De-Fi).

NFTs are a new story

The remarkable growth of the NFT market in 2021 is expected to continue in 2022. As almost everything becomes digital, there is an increasing need to replicate the properties of physical objects like more uniqueness, proof of ownership, and rarity. The Metaverse concept that was previously described will bring many new opportunities for innovative NFT use cases.

Various new use cases including games, music, ticketing, social media posting, and more. are entering the NFT market, attracted by the various benefits and profits that can be made.

However, the risks and challenges facing this market will require regulatory intervention. This raises the importance of having an international non-fungible token regulator for better regulation and legalization. The result could have a big impact and will be decisive for the future of DSFs. It is however still uncertain how this will play out.

About Tailor Insight

Tailor Insight offers in-depth insight into industry trends in the financial market. Tailor Insight provides simple and fast solutions that allow clients to capture, monitor and audit market data from a holistic view down to an individual task on market research and industry trends, especially in the AI, augmented reality, virtual reality and blockchain sectors.

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Brand: Tailor Insight Limited
Contact: Eric Lee, Crypto & Blockchain Industry Analyst at Tailor Insight
Address: Rm C21, G-Floor Greenland Court, No. 88 Ma Tau Wai Road, Kowloon, Hong Kong
Email: [email protected]
Website: https://www.tailorinsight.com

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