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 more likely to emerge within the coming months.

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

HR may 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 deal with the place all pertinent data could possibly be cryptographically saved.

HR additionally offers with the recruiting and hiring of recent staff, an more and more troublesome activity in at this time’s world the place the labor drive participation charge stands at 61.9%, its lowest degree 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 workers, and the decentralized job board is particularly designed to attach blockchain initiatives with exterior builders that present specialised providers.

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

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

Payroll additionally falls below the HR class and initiatives like Request (REQ) help a decentralized funds system the place anybody can request a fee and obtain cash via safe means.

This is a perfect setup for freelancers. Experimental platforms like Sablier Finance additionally supply staff the choice to be paid for his or her labor in real-time slightly than await the top of a payroll interval to obtain their paycheck in a lump sum.

The gig economic system

Journey-sharing providers like Uber and Lyft and creator/freelance marketplaces like Fiverr have been the bedrock of the gig economic system. 2021 estimates present that 36% of the US workforce participated within the gig economic system both as their main or secondary supply of revenue. Information additionally exhibits that 55% of gig staff have been additionally working a separate main job.

Present projections indicate that by 2023, as much as 52% of the U.S. workforce will probably be actively working within the gig economic system or could have performed so sooner or later of their profession, so it’s a rising area that would profit from the combination of blockchain expertise.

One venture that has already established its personal freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is just 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 not too long ago 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 clients can stake to earn particular rebates as a reward for holding the token.

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Firms embrace blockchain options

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

Lots of the prime contenders that provide enterprise options are layer-one blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s layer-two lightning community scaling answer that was not too long ago integrated with the Cash App.

Different robust contenders within the area of enterprise options embody Fantom and the Polygon community as a result of they’ve decrease transaction charges and sooner 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 accordance with Hedera’s web site, the venture is owned and ruled by among 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 ideally suited for big companies that may require a big quantity of transactions to serve their international shopper base.

These use instances embody fee processing, fraud mitigation, the power to tokenize belongings, verifying identification, 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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