3 ways blockchain technology could further mainstream in 2022

2021 was a breakout yr for the cryptocurrency sector and this yr is anticipated to see an extension of the “mass adoption” development.

Public consciousness of blockchain expertise is on the rise and a brand new cohort of initiatives designed to fill extra area of interest roles in society are prone to emerge within the coming months.

Three sectors which have the potential to see vital progress in 2022 are human sources (HR), worker fee options and platforms that serve the gig economic system by providing company blockchain options.

HR would possibly pivot towards blockchain

Human useful resource administration is ripe for blockchain integration because of the safety and information storage options supplied. Blockchain would permit every worker to have a singular handle the place all pertinent data might be cryptographically saved.

HR additionally offers with the recruiting and hiring of latest staff, an more and more tough process in at this time’s world the place the labor power participation fee stands at 61.9%, its lowest stage since 1976.

For blockchain-related jobs, the duty turns into much more difficult because of the restricted variety of individuals with the information and capabilities to work within the nascent sector.

Keep3rV1 is one protocol that focuses on connecting employers with employees, and the decentralized job board is particularly designed to attach blockchain initiatives with exterior builders that present specialised companies.

KP3R/USDT. 1-day chart. Supply: TradingView

Whereas Keep3rV1 focuses particularly on blockchain developer jobs, if the mannequin proves to be a hit, the idea may simply be expanded to serve a wider viewers of job seekers and employers.

Payroll additionally falls underneath the HR class and initiatives like Request (REQ) assist a decentralized funds system the place anybody can request a fee and obtain cash by way of safe means.

This is a perfect setup for freelancers. Experimental platforms like Sablier Finance additionally provide employees the choice to be paid for his or her labor in real-time reasonably than look ahead to the tip of a payroll interval to obtain their paycheck in a lump sum.

The gig economic system

Experience-sharing companies like Uber and Lyft and creator/freelance marketplaces like Fiverr had been the bedrock of the gig economic system. 2021 estimates present that 36% of the USA workforce participated within the gig economic system both as their major or secondary supply of revenue. Knowledge additionally exhibits that 55% of gig employees had been additionally working a separate major job.

Present projections point out that by 2023, as much as 52% of the U.S. workforce can be actively working within the gig economic system or can have accomplished so in some unspecified time in the future of their profession, so it’s a rising discipline that would profit from the mixing of blockchain expertise.

One mission that has already established its personal freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and fee processing protocol whose LaborX platform is much like web sites like Fiverr however conducts all transactions using blockchain expertise and good contracts.

TIME/USD 1-day chart. Supply: CoinGecko

Along with the Chronos.tech, LaborX and PaymentX protocols, the ecosystem has additionally just lately added decentralized finance (DeFi) performance by permitting TIME holders to stake their tokens on the protocol to earn a yield.

Freelancers can stake TIME on the community to obtain bonuses for accomplished duties whereas prospects can stake to earn particular rebates as a reward for holding the token.

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Companies embrace blockchain options

Enterprise-level blockchain-based options are additionally anticipated to thrive in 2022.

Most of the high contenders that supply enterprise options are layer-one blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s layer-two lightning community scaling answer that was just lately built-in with the Money App.

Different sturdy contenders within the discipline of enterprise options embrace Fantom and the Polygon community as a result of they’ve decrease transaction charges and quicker processing capabilities.

FTM/USDT vs. MATIC/USDT 1-day chart. Supply: TradingView

A last protocol that particularly focuses on creating an enterprise-grade public community that permits people and companies to create decentralized functions (DApps) is Hedera (HBAR).

In line with Hedera’s web site, the mission is owned and ruled by a few of the world’s main organizations together with IBM, Boeing, Google, LG and Commonplace Financial institution.

The excessive throughput nature of Hedera’s hashgraph structure makes it excellent for giant companies that will require a major quantity of transactions to serve their world consumer base.

These use instances embrace fee processing, fraud mitigation, the power to tokenize belongings, verifying id, the safe storage and switch of knowledge and the power to create a non-public, permissioned blockchain for in-house use.

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