Cryptocurrencies and blockchain have begun to have a major impact on the established financial system. We have compiled several titles that will influence these concepts, which will be popular in the new year.
Countries to issue digital currencies
During 2019, perhaps the most popular thing was the plans of countries to issue their own digital currencies. 2020 may be the year these countries entered the market. Countries such as the United Arab Emirates, Japan, Sweden, Russia, Estonia and France reported their government-issued digital currency issuance plans.
China is the closest country to launch the national digital currency. Following rumors over the past year, the Chinese President made a statement that the focus should be on block chain technology. Although a clear date is not given for the digital currency, it is not wrong to say it is in hand.
Companies will join into the crypto pools
Companies like J.P. Morgan Chase, Walmart, AirAsia, Mitsubishi and Tencent are in the process of creating a digital entity. French finance giant Société Générale is a token for the bond business.
The most notable of these is the consortium go komgo SA Eth, which consists of an Ethereum-based blockchain platform consisting of ABN AMRO, BNP Paribas, Citi, Credit Agricole Group, ING, Rabobank and Shell.
There are also other projects that would like to use the blockchain as a way to solve FOREX transactions in the interbank market and trade finance. 2020 will be a year in which large corporations will accelerate their efforts for blockchain-based assets.
The next Bitcoin half is expected to take place in May this year. Once the 630 001. block is reached, the mining award will drop from 12.5 BTC to 6.25 BTC.
Fewer bitcoins will then be produced, which will lower the overall inflation rate in the network.
Decentralized finance (DeFi) era
Decentralized finance takes the decentralization created by crypto and applies it to more complex systems. Financial activities such as lending and bond making can be done with cryptos. Also some DeFi platforms have become quite popular for 1-2 years. In this context, we can easily say that the DeFi area is one of the areas to be followed in 2020.
Blockchain will take part in the Olympic Games
Mitsubishi Estate, which manages about one-third of all buildings in Tokyo's business district, collaborated with electronics giant Fujitsu to ensure secure chain-sharing of data between restaurants, hotels and other companies during the month-long summer Olympics.
Also the next host (Paris) plans to use blockchain technology in 2024.
Source: Blockchain Turkiye
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