Here’s what industry leaders foresee in the development of the blockchain technology and crypto space in 2021.
It would be fair to admit that after 2020 and all it has put us through, making any predictions for the upcoming year is most likely to be a game of blindfold. Meanwhile, I am certain that humanity has much to learn from its past transgressions, and will move forward by correcting our mistakes and weaknesses. That’s what we always do. Undoubtedly, the major driver of our development this year was the COVID-19 outbreak. The effects of the ongoing global pandemic on every aspect of our lives will form our future, and there are some tendencies we started last year that will most likely continue in 2021.
COVID-19 has revealed the dire need for solutions in economic efficiency and transparency, and most urgently within the healthcare sector. Further deployments of blockchain solutions will strengthen healthcare systems, if not revolutionize them, by helping both medical practitioners and patients globally. Despite promises to preserve citizens’ private data during the global pandemic in the name of public health, the blockchain-based solutions storing COVID-19 data have raised serious concerns, as they don’t seem to be private at all. While the potential of such emerging technologies is promising, to balance privacy with the appropriate solutions should be a priority for those engaged in this industry.