Sunday, January 16, 2022

3 ways blockchain technology could further mainstream in 2022

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

Public consciousness of blockchain technology is on the rise and a brand new cohort of tasks designed to fill extra area of interest roles in society are prone to emerge in the approaching months.

Three sectors which have the potential to see vital development in 2022 are human sources (HR), worker cost 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 enable every worker to have a singular handle the place all pertinent data could be cryptographically saved.

HR additionally offers with the recruiting and hiring of latest workers, an more and more troublesome activity in at present’s world the place the labor pressure participation price 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 in the nascent sector.

Keep3rV1 is one protocol that focuses on (*3*), and the decentralized job board is particularly designed to attach blockchain tasks with exterior builders that present specialised providers.

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

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

Payroll additionally falls underneath the HR class and tasks like Request (REQ) help a decentralized funds system the place anybody can request a cost 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 quite than look forward to the top of a payroll interval to obtain their paycheck in a lump sum.

The gig economic system

Ride-sharing providers 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 the United States workforce participated in the gig economic system both as their main or secondary supply of revenue. Data additionally reveals that 55% of gig employees have been additionally working a separate main job.

Current projections indicate that by 2023, as much as 52% of the U.S. workforce can be actively working in the gig economic system or can have achieved so sooner or later in their profession, so it’s a rising discipline that could profit from the mixing of blockchain technology.

One venture that has already established its personal freelancer job board is (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 technology and sensible contracts.

TIME/USD 1-day chart. Source: CoinGecko

In addition to the, LaborX and PaymentX protocols, the ecosystem has additionally not too long ago 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 prospects can stake to earn particular rebates as a reward for holding the token.

Related: Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security

Corporations embrace blockchain options

Enterprise-level blockchain-based options are additionally anticipated to thrive in 2022.

Many of the highest 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 not too long ago integrated with the Cash App.

Other robust contenders in the sector 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. Source: TradingView

A last protocol that particularly focuses on creating an enterprise-grade public community that enables people and companies to create decentralized functions (DApps) is Hedera (HBAR).

According to Hedera’s web site, the venture is owned and ruled by among the world’s main organizations together with IBM, Boeing, Google, LG and Standard Bank.

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

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

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The views and opinions expressed listed below are solely these of the creator and don’t essentially replicate the views of Every funding and buying and selling transfer includes danger, you must conduct your personal analysis when making a call.