3 ways blockchain technology could further mainstream in 2022

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

Public consciousness of blockchain know-how 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.

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 provided. Blockchain would permit every worker to have a singular tackle the place all pertinent data may very well be cryptographically saved.

HR additionally offers with the recruiting and hiring of latest workers, an more and more troublesome process in right this moment’s world the place the labor pressure participation price 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 folks 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 companies.

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

Whereas Keep3rV1 focuses particularly on blockchain developer jobs, if the mannequin proves to be successful, the idea may 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 by means of safe means.

This is a perfect setup for freelancers. Experimental platforms like Sablier Finance additionally provide staff the choice to be paid for his or her labor in real-time relatively than await the top 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 have 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 earnings. Knowledge additionally exhibits that 55% of gig staff have been additionally working a separate major job.

Present projections indicate that by 2023, as much as 52% of the U.S. workforce shall be actively working within the gig economic system or could have finished so sooner or later of their profession, so it’s a rising area that might profit from the mixing of blockchain know-how.

One undertaking 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 much like web sites like Fiverr however conducts all transactions using blockchain know-how 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.

Lots 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 integrated with the Cash App.

Different sturdy 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 closing protocol that particularly focuses on creating an enterprise-grade public community that enables people and companies to create decentralized purposes (DApps) is Hedera (HBAR).

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

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

These use instances embody fee processing, fraud mitigation, the flexibility to tokenize belongings, verifying identification, the safe storage and switch of information and the flexibility to create a personal, permissioned blockchain for in-house use.

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The views and opinions expressed listed below are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, you must conduct your personal analysis when making a choice.