Blockchain 101; What Are Some Blockchain Trends For 2022?

I don’t know how informed you are about cryptocurrencies, but they really are becoming something big nowadays. I remember I first heard of one of the most famous cryptocurrency, Bitcoin, after one gaming tournament in South Korea offered them as the prize to the person who was in last place in the competition. Back then, it seemed funny; 25 invisible coins? What can one do with them? But today, if you have 25 Bitcoins, well… you would be considered filthy rich!

I mention Bitcoin and cryptocurrencies because of the trends I keep seeing pop-up everywhere around me, and I thought it would be great if I shared my tips regarding something people who invest into cryptocurrencies rely on in case you’re interested in it. The reason why I want to talk about this is because it is a genius invention, one which you will hopefully understand by the end of this article. The one thing I really wanted to discuss here are the Blockchain trends that will be huge in 2022.

“Thanks Kennedy, but what is Blockchain?!”

I’m happy you asked; In layman terms, Blockchain is a database, which stores your information in groups that are otherwise known as blocks; Naturally, there is a limit to information one block can keep secure so every time a block is full, your database creates another one and links it to the previous block.

What is interesting about Blockchain is the fact that these blocks carry not only the information you’ve given them, but also the time of their creation – so for instance, if you store information about a transaction, it will remember the date and time it was made.

“Alright. That makes sense. But how is it used in the real world?”

Remember when I said that there is nothing 100% secure on the internet? Well, I made a mistake; Blockchain is something indestructible. It’s so secure that nothing can crash it, and that’s one of the reasons why Blockchain can be used in the real world, especially when it comes to extremely dangerous transactions, high-sensitivity institutions etc.

“So what are the Blockchain trends for 2022?”

· It can be used in a lot of industries and services: For instance, developers predict that it’s very likely that Blockchain databases will be used in healthcare for easier information storing and payment transactions. It’s also predicted that manufacturers (not all, but the wealthy majority) will be using them for the same purpose; information and payment transactions and security!

· It’s predicted that it will be used for tracking the distribution of Covid19 and other vaccines: I feel like it’s going to be extremely beneficial when it comes to tracking the distribution of Covid19 vaccines as I don’t think that the vaccination of all of us will be complete by the end of the next year. (I’m not a doctor – don’t rely on me for your information about vaccines, please!) This is because there are some countries where there are reports of only 1% of the population being vaccinated due to the lack of vaccines. By having clear “blocks” of information about what country needs and doesn’t need any more Covid19 vaccines, I, as well as other developers, feel like it would be extremely helpful for our healthcare!

What do you think, what else will Blockchain be used for in 2022?