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What’s the Next Big Thing in Cryptocurrency?

Industry insiders have their say…

Pavel Kravchenko, founder at Distributed Lab

The main hope is that in 2019 one of the most important niches in the blockchain area will be occupied by assets tokenisation (traditional assets -> digital assets). Despite the fact that the process of transferring asset management to the digital plane is accompanied by an enormous amount of difficulties and limitations, its need is very important for the modern world, a world in which everything seeks to adopt a digital form or at least to have a direct connection with the digital world. Data tends to become digital in nature, many processes also take place in digital form or are initiated using digital signals. That is the situation with value today. Values also need to be considered and managed. And tokenisation is a process that directly implies the transfer of value management to the digital plane. Moreover, to provide the modern system with the necessary mechanisms for storing and managing asset rights, blockchain technology is the most suitable.

Dominic McCann, CEO of blockchain technology business Interbit 

The next big thing in blockchain will be architectures comprising multiple blockchains. This is because the evolving shared data economy has changed business models to be both more distributed and decentralised, as well as more efficient and data driven. To accommodate this changing landscape, an infrastructure is required that upholds core values of privacy and data sovereignty, while enforcing absolute security. Its architecture must be inherently private, scalable and capable of supporting distributed computing models, such as edge and mesh computing.

Early blockchain platforms such as Ethereum have enabled individuals and organisations a secure platform to exchange value in a trustless environment, but performance was sacrificed to achieve the degree of decentralisation. In the enterprise space, the inherent characteristics of single-blockchain solutions resulted in similar concessions that ultimately prevented the delivery of viable solutions into commercial environments.

So, 2019 is going to see the birth of more distributed, safer, cheaper computing from edge, 5G and mesh, meaning that blockchains and all operating systems will have to adapt to be able to support applications run on these distributed environments.

To support this new generation of digital infrastructure, and to successfully transition from theoretical examples to practical deployment, we will see the adoption of multi-blockchain architectures. Interbit enables businesses to build networks comprising many blockchains to provide the benefits of blockchain while solving the inherent limitations. Users are able to segregate data between discrete chains, ensuring only the relevant parties have access to data, and enforcing privacy at architecture level. By dividing the network into millions of lightweight chains, known as megachain, Interbit will scale horizontally and guarantee high performance with network growth.

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