ConsenSys’ Andrew Keys makes blockchain predictions for 2019


The Fourth Industrial Revolution will ignite in 2109, as AI, robotics, Internet of Things, quantum computing and biotechnology actuate from proofs-of-concepts into production. These will all be deployed on blockchain substrates, whilst technology will be further embedded into daily life in unseen, but powerful ways.

That’s the view of ConsenSys’ Andrew Keys. “Cognizant of this, enterprises from Walmart to Fidelity will launch live blockchain systems, releasing a flood of network effects. Amazon, Facebook, VCs, industrial manufacturers etc. are all making quiet moves already. This particular revolution will move lightning quick, in a percentage of the time of preceding revolutions. But this time around, every participating individual, not just billionaires, must hold a stake in the benefit. Decentralisation will be a necessary development for the Fourth Industrial Revolution to occur,” he says in a Medium post.

Keys also predicts that in 2019 the end of token fever will lead to higher quality tokens, legacy market volatility will migrate investors to digital assets and blockchain will ignite an efficiency explosion in global banking.

“This year, banks and institutions will ramp up blockchain adoption in a big way, as they decrease settlement latency, enhance data management, unclog paper dependent workflows, optimise the KYC process, and eliminate human errors,” he writes.

“Blockchain networks will take a massive leap towards reducing counter-party risk and fraud, allowing companies to proactively manage risk rather than just reactively responding to risk.”

 





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