Blockchain Outlook 2019: Disruption Continues

Earlier this week the Investing News Network (INN) reported on blockchain trends of 2018–which touched on the increase of institutional investors in the space, regulations and other industries this new technology has begun disrupting.

With 2019 freshly under way, it’s time to look at what’s in store for the blockchain industry for the year ahead and beyond.

Continue reading for what industry experts and companies in the space are expecting in the blockchain industry for the coming year.

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Blockchain outlook 2019: disturbance continues

In an interview with INN, Eric Ervin, CEO of Blockforce Capital, said that innovation in the blockchain sector will only continue growing. Ervin compared it to the dotcom correction in the early 2000s after stocks crashed, but how the technology became more about the Internet changing our daily lives.

“I think that the building and the disruption and the [blockchain] technology is just going to continue,” Ervin said.

Anthony Di Iorio, CEO and founder of Decentral and Jaxx and co-founder of ethereum, echoed similar sentiments. In a phone calll with INN, Di Iorio said the evolution of the industry starts with people understaning how transformative this technology is.

[Blockchain] will create a lot more change and industries that the Internet couldn’t change, and it’s going to impact every part of [the public’s everyday] lives,” he said.

Brian Kelly, founder and CEO of BKCM, said that what the industry needs—which includes cryptocurrencies—is the “story about adoption” and how the technology will be used and why it will be important.

“That, to me, is kind of the biggest challenge that we have over the next year or two is to have people in the US and more developed markets understand why bitcoin is important and then secondarily why cryptocurrencies are important to the Web 3.0 story,” Kelly said.

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Blockchain outlook 2019: exchanges in focus

With 2019 now in full swing, Kevin Hobbs, CEO of The Vanbex Group, told INN that this year should start seeing the shutting down of cryptocurrency exchanges and that there will be exchanges  “popping up” that will sell security tokens. 

“So [2019 will see the]  shutting down of …  what we consider traditional cryptocurrency exchanges, and a surgence of new security token platforms for trading tokenized securities,” Hobbs said.

Ervin said that with more clarity coming from the US Securities and Exchange Commission (SEC), there have been a number of exchanges that have been approved to trade digital securities.

In a statement in November, the SEC said that its divisions “encourage technological innovations that benefit investors,” and that the agency had “been consulting with market participants regarding issues presented by new technologies.”

“Market participants must still adhere to our well-established and well-functioning federal securities law framework when dealing with technological innovations, regardless of whether the securities are issued in certificated form or using new technologies, such as blockchain,” the statement read.

Ervin said that sometime in the second quarter of 2019, crypto exchange users will be able to create a digital token that represents a share of Apple (NASDAQ:AAPL) and will then be able to sell their bitcoin and buy an Apple share directly on Coinbase.

In September of last year, TechCrunch reported that Coinbase’s CEO Brian Amstrong wants the exchange to become the “standard for companies to create their own token.”

“It makes sense that any company out there who has a cap table… should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens,” Armstrong told TechCrunch.

“All of these security tokens are going to really hit the mainstream,” Ervin said.

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Blockchain outlook 2019: other industries adapt

As noted in our blockchain trends 2018 article, markets like supply chain management and food traceability have recently begun turning to blockchain for implementation.

Areas such as healthcare and finance have also long ago welcomed blockchain, but there are other industries looking to add this new technology.

Hobbs told INN that the movie industry in particular will have some “really strong projects” coming in the next year.

“I  think we’re going to see a surgnce of … blockchain technologies that are handling film and TV and content,” he said. 

In an undated 2018 article from Variety, the publication noted that indie flick “No Postage Necessary” was the first movie released on blockchain technology last June.

The article states that those wishing to view the movie could purchase it through a blockchain-based video app called Vevue, and pay for it with the app’s digital currency.

TechCrunch further reported that blockchain in the media and entertainment industry has “positive potential” due to its “revolutionary industry-transforming new offensive and defensive power.”

“Blockchain enables new ways to monetize content via micropayments and direct creator-to-consumer distribution sans today’s leading middlemen,” the article said.

Hobbs also said that blockchain will also have a big impact on the real estate industry.

A research report from Deloitte said that commercial real estate (CRE) executives have found that blockchain-based smart contracts can be pivotal to real estate.

“Blockchain technology can potentially transform core CRE operations such as property transactions like purchase, sale, financing, leasing, and management transactions,” the report said.

Real estate is another good one [for blockchain] that people are gravitating to,” Hobbs said.

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Blockchain outlook 2019: investor takeaway

Indeed, the coming year will begin to see the adoption of blockchain in more sectors while regulatory bodies will continue providing more clarity for the sector.

With the blockchain industry still in its infancy, it is to be expected that challenges and roadblocks will still be in the forecast. Investors should still enter the sector with caution, but can take comfort in knowing blockchain is here for the long haul.

 Don’t forget to follow us @INN_Technology for real-time news updates! 

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence. 

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