Looking Ahead at Crypto Adoption Trends in 2020

Asia Blockchain Review
January 3, 2020

With the new decade approaching, experts are predicting that artificial intelligence, the Internet of Things (IoT), and blockchain will be integrated into new projects, while institutional investors will show greater interest in cryptocurrency.

Anticipating the Integration of Blockchain, AI, and IoT

According to Cointelegraph, AI can greatly enhance the efficiency of blockchain technology, as AI has the ability to speed up transactions and improve performance, resulting in lower costs for operators.

With IoT, which involves multiple devices on different networks, there is also the possibility that devices can use cryptocurrencies to make transactions autonomously.  

Dominik Shiener, Founder of the Iota cryptocurrency project, revealed that another important step in technological advancement is autonomy.

“The ultimate vision of all these technological advances is it to move from automation towards autonomy, and turn machines into autonomous economic agents. By simply giving a machine a wallet and way to verify, receive and send payments, we are creating an entire new Machine Economy where machines provide services and data to each other,” he said.

Rising Interest in Cryptocurrency Among Institutional Investors

Meanwhile, experts have voiced that cryptocurrency is gaining more interest among institutional investors, with a survey by Fidelity Investments reporting that 47% of institutional investors in the U.S. “appreciate that digital assets are an innovative technology play.”

Moreover, the survey revealed that over 70% of respondents have a positive outlook towards digital assets, roughly 40% are willing to consider investing in digital assets in the near future, and 22% already possessing some form of digital asset. 

Another indicator of increased interest in this type of asset is that leading universities such as Yale and Harvard have been making investments in blockchain-related projects, like digital rights protection platform Blockstack.

Source: https://cointelegraph.com

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