Welcoming 2022 with virtually the same baggage that troubled the global economy in 2021, new technological advancements and market participants in emerging tech may be the sole saviors.
Tesla stock’s growth after the onset of the pandemic and climate change as the dominating theme in all the multilateral meets shine the spotlight on clean energy stocks. Besides, blockchain, which supposedly speeds up transactions by decentralizing the network, will be a closely watched technology in 2022.
The rise of blockchain players
Aside from blockchain-based digital currencies like Bitcoin and Dogecoin, decentralized projects like Audius, a music streaming platform, are carving their path despite creating lesser noise than cryptocurrencies.
The Audius project claims to bring content creators closer to their audience by weeding out intermediaries like record labels. Many other projects are harnessing the powers of the decentralized ledger. Blockchain-based games, which combine aspects like no centralized governing authority and play-to-earn, might emerge as the disruptors in conventional gaming.
Though most analysts, including institutional players, are diving deeper into crypto assets due to their ability to return gains quickly, blockchain projects have remained a not-so-popular subject. A few projects with defined utility can boost long-term sustainability.
Decoupling of blockchain projects and cryptocurrencies
Calendar 2021 was the year where investors parked money in any project’s native token without researching much about its line of business and its operational sustainability.
The year 2022 could settle this dust, with more investors willing to take note of a project’s sustainability by weighing the odds rationally. Audius, for example, has a user base of over 6 million active monthly listeners. A blockchain game, Axie Infinity, has two million daily users entering into combats.
Adoption of distributed ledger by the wider industry
Blockchain as a technology has the potential to disrupt virtually every sector, including financial services and real estate. It brings with it a new way to record transactions that rely on peer-to-peer architecture and not any centralized authority.
Facebook (renamed Meta) forayed into blockchain with ‘Libra’ cryptocurrency project and may now use the tech to power its so-called metaverse, a fictional world.
Kalkine Media aims to step into 2022 against the above backdrop. The company is keeping a close tab on the developments in not only the popular cryptocurrency space, but also the humble blockchain technology.