Is there a future for cryptocurrency market?

Since the advent of Bitcoin in 2009, the concept of cryptocurrency has been greatly expanded. New companies in the field of encryption have exploded, and public interest is almost fanatical. Of course, its underlying blockchain technology has been greatly improved in more than ten years. Many people have begun to believe in and use cryptocurrency in their daily lives. By 2030, Deutsche Bank expects that there will be 200 million bitcoin users in the public sector. The large-scale adoption scenario of encryption enthusiasts is now closer to reality than before. Even during the outbreak of COVID-19, compared with the financial market, many cryptocurrencies such as Bitcoin performed quite well. The rise of blockchain technology The use of blockchain technology is growing exponentially. Although DLT technology originated in the field of cryptocurrency, it has been widely used in other industries, including medical care, finance and education. It all comes down to trust and the invariance of associated data. Because there is no middleman, the cost is lower. But can these characteristics prolong the growth of the industry? Looking at the progress of blockchain today, we put forward five predictions for the future development of this technology and the prospect in 2030. The word "cryptocurrency" used to be understood by only a few people, but now it is a household name. We predict that by 2030, the value of cryptocurrency will rise to $7 billion, more than three times the current market value of $2 billion. For investors, enterprises and brands, it would be foolish to ignore the growing wave of encryption for a long time. These details are very important for understanding the attitude of ordinary consumers and predicting consumers' behavior towards cryptocurrency in a highly uncertain future. The government can use virtual currency with the help of blockchain. The government will have to find a way to integrate some virtual currencies to keep up with the current trend and participate in the accompanying economic growth. We already have some examples, such as digital currency and Petromoneda, which are supported by Venezuelan oil and mineral resources. These countries have developed their own digital currency. Over time, the use of price-stable tokens will begin to gain momentum, which are regulated by monetary rules and backed by collateral. Governments that are unlucky in cryptocurrency creation may turn to stable currencies. Global supply chain can benefit greatly from the use of blockchain technology. The current global trade is characterized by disjointed and unreliable enterprise relations. Grey markets such as medical devices, medicines, clothing, auto parts and food supplies may become the source of life-threatening counterfeit products, because many people die every year. Therefore, it is expected that most global trade will be conducted using blockchain technology. Before achieving this goal, blockchain technology needs to do several things. This will enable cryptocurrency to grow in the ecosystem, thus promoting economic growth and improving conditions and standards based on trust, invariance and transparency. Because it can be widely tokenized by using blockchain technology, only those who used to have a lot of financial resources can provide it to the public now. Luxury hotels are an example of assets that require a lot of money and upfront risk. When the huge assets are tokens, now everyone can own some income-generating assets. Tokens are becoming a reality at all levels, as evidenced by NBA players converting contracts into digital tokens. With the rapid development of blockchain technology, some exciting new things may appear in ten years. However, in the long run, due to the efforts of various developer groups, it is feasible that the blockchain will develop significantly. Directed acyclic graph (DAG) is considered as a substitute for blockchain. Faster transactions, no need for mining, etc. It is considered to be some of its main advantages over blockchain. We have seen some people call them the future of blockchain technology. In the future, consumers may get better choices than we think now. Time will tell. Blockchain voting is two more interesting blockchain applications. They claim to be truly immutable ID systems, which can eradicate identity theft and even prevent voter fraud. From this perspective, 2030 seems exciting.