HONG KONG, CHINA / ACCESSWIRE / July 2, 2022 / TickerWin, one of the leading market research companies, has released a report on '5 Major Tech Trends in the Blockchain Industry'. In 2022, it is unexpected that the booming of De-Fi market, as well that of NFT. In addition, a growing number of traditional financial organizations entering the crypto scene, increasingly believing crypto are here to stay. Here are some interesting trends of blockchain industry:

Metaverse Application

Metaverse is the emerging universe where there will be 'immersive' experiences with new technologies like blockchain, augmented reality, virtual reality etc. Without blockchain technology, the Metaverse would be incomplete because everything would be stored in the centralised network.

Blockchain will enable the upcoming of a new wave of social networks that could be bigger and even better than the existing ones that are now synonymous with the word social media. Blockchain in 2022 is expected to run multiple platforms on Metaverse with NFTs and cryptocurrencies. Digital assets like NFTs will thereby De-Fine ownership on the Metaverse and cryptocurrencies will power the new digital economy.

CBDC

With 80% of the world's central banks now exploring Central Bank Digital Currency (CBDC) projects during 2021, according to the Bank of International Settlement, the year 2022 will see a further breakthrough. Governments worldwide realise that cryptocurrencies are here to stay and the majority of CBDCs are being introduced to ensure their monetary system stays relevant to consumer demands and not necessarily to eradicate the use of Bitcoin and other private cryptocurrencies.

Blockchain with 5G IoT Challenges

It can potentially help to solve many problems around security as well as scalability due to the automated encrypted and immutable nature of blockchain. It is expected to hear about more pilot projects and initial use cases in this field during 2022.

NFT Art and NFT Gaming

The remarkable growth of the NFT market in 2021 is expected to continue in 2022. As almost everything is becoming digital, there is an increasing need to replicate physical items properties like more uniqueness, ownership proof and scarcity. The Metaverse concept that was earlier described will bring plenty of new opportunities for innovative NFT use cases.

Various new use cases including gaming, music, ticketing, post on social media etc. are entering the NFT market attracted by the various benefits and the profits that can be made.

However, the risks and challenges this market is confronted with will ask for regulatory intervention. This raises the importance of having an international regulatory body of non-fungible tokens for its better regulation and legalization. The outcome could have a great impact and will be decisive for the future of NTFs. It is however still uncertain how that will proceed.