Gartner Predicts Future of Blockchain in 2020

Asia Blockchain Review
December 23, 2019

Gartner, a global research and advisory firm, recently made predictions for technologies in 2020 including AI, blockchain and cryptocurrency. Next year will likely see more use of blockchain to prevent disinformation, but the technology’s potential applications will still be met with skepticism and confusion.

Blockchain for Content Authentication

According to Gartner, blockchain technology will be adopted to authenticate up to 30% of world news and video content by 2023 in an attempt to combat deep fake technology.

As social media bots and other technologies accelerate the spread of fake news, organizations and governments around the world are turning to blockchain to prove news photographs and videos are real.

Blockchain’s ability to create an immutable and shared record of content makes it a suitable technology for online content authentication.

Gartner also predicted that the 2020s will be the decade when blockchain finds its home outside of crypto mining sheds and enters the multinational corporate world. “Blockchain, which is already appearing in experimental and small-scope projects, will be fully scalable by 2023,” the tech trend report claims.

The Rise of Mobile Crypto Accounts

Much of the world will turn to mobile-accessible cryptocurrency accounts with Africa seeing the highest growth rates, Gartner forecast. As social media platforms and marketplaces are now embracing crypto payments, 50% of smartphone users without a bank account will use a mobile-accessible crypto account in the next five years, according to the report. E-commerce and trading partners are expected to emerge in areas previously unable to access capital markets by using crypto accounts.

Online media Gigabit Magazine also predicted that 2020 will see someone(s) holding the position of Chief Blockchain Officer as well as the use of blockchain for passport authentication.


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