Future of Blockchain in the next 5-10 years.

[truthofshunya]

I very well understand that 5 -10 years in the blockchain world can be a very longtime where lots of changes may happen. However, I think it is a sufficient amount of time for enough for any major technological adoption to happen. It is estimated that the IoT market will have a market size that of $1,436 Billion by the year 2027, that would mean lots of devices connected to the internet.

Lots of connected devices would also mean potential hacks and security breaches. Deploying blockchain to monitor these devices would be the only practical solution. Blockchains such as Concordium can help used the inbuilt ID verification systems to enable seamless interaction of humans and IoT connected devices or even between different devices, legal regulation is another hassle that can be tackled by a blockchain like this.

Number of blockchain and crypto users would have increased by a large number, that would also mean more scrutiny, so we can expect that regulation will be the only way for blockchain projects to stay relevant in the space. It would also mean that users have access to a large choice of Blockchains that would have matured over the many years.

A lot more people being being considered "digitally finance literate". Hence, the entry to barrier will not be too much. We will be closer to hyper bitcoinization. Global Debt will be at an all time high and we may see another cycle of economic collapse. 

We will all have alternative means of financial freedom Blockchain technology in itself would have evolved so much. I expect a large number of projects to have moved to advanced security algorithms by then. It will be interesting to see how the tech evolves.

IoT homes, self driving cars, decentralized companies and decentralized autonomous organizations bigger than corporations will be fun to watch and participate in.

I know I missed many more things, but what is your take on how the future of blockchain might look like?

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[amishmanish]

Deploying blockchain to monitor IoT devices is probably an idea that has been thrown around since the time of IOTA. That project never really took off and the moment you mix IoT with blockchain, it becomes a bunch of gibberish and vaporware. Blockchain is good as a record of transactions. Why would billions of IoT devices need to keep a record of their transactions on a ledger? IoT devices only ever need to communicate on a "need-to-interact" basis. They are not supposed to be open, free nodes that can connect with anything and everything. That would result in a world-wide network of low-power, low-bit rate devices. This just doesn't make any sense.

For these reasons, I believe that all the talk of mixing blockchain with IoT, AI or Big data is completely worthless. The only place where Data analytics maybe useful is a use case which is antithetical to blockchain privacy and anonymity, that is, transactions tracing.

For blockchain to continue to expand and stay relevant, the mainstream media and people have to realize and fight for the benefits bitcoin offers as a store of value, medium of exchange and a possible placeholder for transparent Govt expenditure.

[franky1]

IOTA didnt take off because it was mainly media hype of investment into IOTA but not much business meeting with device manufacturers to actually get it implemented(no mainsteam device plan)

manufacturers didnt take meetings with IOTA much. instead they wanted to take the open source code and use their own employees to develop their own systems away and not involving IOTA

the guy above advertising 'concordia' suffers the same problem. wasting time advertising another PoS coin for investment and throwing in a few buzzwords people want to see. but absolutely no detail/content of who/what manufacturers/businesses they have partnerships with or in negotiations with future businesses

and thats how these crapcoins always fail
over promising the offer but not following through with any promise

...
so here is my idea of the next 5-10 years
manufacturers will have their own systems that then can interconnect to some master 'reserve' blockchain. this is what the hyperledger project was aiming for.

[Dorodha]

The future of blockchain will improve within the next 5-10 years Blockchain technology is now becoming popular everywhere the planet. The time has come to figure with blockchain technology to stay pace with the days Blockchain may be a safe and open thanks to store information. it's a distributable database that records all transactions between the participating parties. Each transaction is again verified by the bulk of the system once any information is entered into the laser it remains permanently and may never be deleted. The blockchain consists of a verifiable record of every single transaction.

[amishmanish]

IOTA didnt take off because it was mainly media hype of investment into IOTA but not much business meeting with device manufacturers to actually get it implemented(no mainsteam device plan)
--
the guy above advertising 'concordia' suffers the same problem. wasting time advertising another PoS coin for investment and throwing in a few buzzwords people want to see. but absolutely no detail/content of who/what manufacturers/businesses they have partnerships with or in negotiations with future businesses

and thats how these crapcoins always fail
over promising the offer but not following through with any promise

...
so here is my idea of the next 5-10 years
manufacturers will have their own systems that then can interconnect to some master 'reserve' blockchain. this is what the hyperledger project was aiming for.

I was not really aware of this issue that IOTA had with their clients. I do recall they had a problem with using unproven cryptography primitives. They could never really decentralize the coordinator. This may actually be a problem with all blockchain products. Organizations want to deploy their own rather than pay the software provider for the service. The democratization of programming know-how is probably one reason that companies want to cut corners this way.

Couldn't agree more as to why these coins fail one after the other. No proven use cases and no examples of a real deployed product. Just a lot of hype about interconnectedness, decentralization, immutability etc etc.

[Mauser]

In my opinion block chain is going to be dominating the IT landscape in the next 10 years. Blockchain technology can help in so many area and will revolutionise the way we do business. Just by looking at the growth of the crypto community in the last 5 years we can see how much potential there is for the future. There is no way around cryptos and Blockchain anymore. Many companies are incorporating into their infrastructure.

[Twinkledoe]

In my opinion block chain is going to be dominating the IT landscape in the next 10 years. Blockchain technology can help in so many area and will revolutionise the way we do business. Just by looking at the growth of the crypto community in the last 5 years we can see how much potential there is for the future. There is no way around cryptos and Blockchain anymore. Many companies are incorporating into their infrastructure.

There will be dedicated courses in blockchain technology in schools or universities. And even now, several Universities are already offering this course, so I think this will continue and expand to other Universities or Colleges. The new generation will understand better about what blockchain tech is and how it will affect our way of life. So I believe the future of blockchain is great!

[Polo7]

Its just scam and Will disapere one day!
Block chain has no future!
Keep cash cash is king and trusted money always

[Salauddin1994]

Bitcoin is certainly one among the inventions blockchain technology supported which the primary crypto-currency was created bitcoin may be a secure software the blockchain technology at the core of bitcoin is very reliable. Banks and financial institutions should also use blockchain technology features a future which will help us do business and improve cryptocurrencies.

[Vilagra]

I suppose, blockchain will affect only financial sphere in the next decade but will not substitute the cash we are all used to. The evolution of blockchain depends on the Internet, but (for example) in my country Internet is not available at all places.

[yohananaomi]

Its just scam and Will disapere one day!
Block chain has no future!
Keep cash cash is king and trusted money always

It is true that paper money will take precedence but no one can determine what will happen. just like when crypto with Bitcoin at that time no one believed it could be as valuable as it is today. everything can happen and no one can determine what will happen in the next year and only predictions.
but I agree that paper money is still the most important because after all it is the standard for our shopping and everything will also return to paper money even though you have how much valuable tokens