Hard Fork and Hard Work: Predictions for 2020

Hard Fork and Hard Work: Predictions for 2020

by December 10, 2017
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Image: Pixabay

As Bitcoin has recently reached the $19,000 rate on the cryptocurrency market, the crypto community became excited about the future of digital currency. Within the past decade, there has been a proliferation of cryptocurrencies, so now there are more than 1 thousand of them.

Bitcoin has been on the top of currency rates during the last 6 years. It is predicted that by 2030, it might climb to the $500,000.

At the same time, the penetration of smartphones worldwide is at the rate of 63%, while by 2020, the general number of users is expected to be 1 billion. 90% of them are supposed to come from the developing countries. Logically, almost every human on the Earth will be holding an E-bank in their pocket, using Bitcoin app.

Of course, this will boost crypto money, so it is predicted that Bitcoin will be used in a half of all noncash transactions. Its network has increased from 120 thousand people in 2013 to 6,5 mln in 2017. By 2030, we can expect 400 mln users only.

Bitcoin price was $0.39 only in 2010, increasing by $979 in 2014 and reaching $10,000 in November 2017. Bitcoin Cash was $555.89 in July 2017, by now it has reached $1,715. Ripple (first mined in 2014) had a linear price reaching $0.04 by November 2017. Ethereum’s first price as of August 2015 was $2.83 keeping linear until March 2017 and ended up at $480.36 in November. Having appeared in 2015 only, Ethereum’s hard fork Byzantium reached $350 in 2017.

Within the concept of seamless economy, people of the future will use cryptocurrency in daily life. Today, there are only nearly 100 companies that accept Bitcoins: hotels, online platforms, auto repairs, restaurants, VPN networks, airlines etc. In Japan, people now pay electricity bills with Bitcoin. In the future, it will be possible to pay such bills as gas, water, and mobile around the world. The list of spheres where digital money will be implemented in the future is expected to spread as cryptocurrency becomes of the common currencies in the world.

There will be more and more blockchain developers around the world, most of the IT companies reprofiling just now.

According to Eugene, one of the Software developers working at Mobilunity, provider of dedicated development teams:

Mobilunity Dedicated Software Developer Eugene“It’s difficult to make any precise predictions. Bitcoin is not likely cost $500,000 by 2030, but it might will increase up to $40,000 by 2020. Regarding Ethereum, it would switch from proof-of-work mining to proof-of-stake.”

Eugene is currently working on a Swiss-Hong Kong blockchain project. He predicts that

“within several years the real estate transactions will be conducted on blockchain using smart contracts. This will simplify the process of buying and make it fair and equitable. Maybe this would change the whole industry of B2C trade, and not only”.

 

Author: Anastasia Stefanuk is talented content and marketing specialist working at Mobilunity, Ukraine.  She is passionate about exploring new web development trends and cryptocurrencies.

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