3 ways blockchain technology could further mainstream in 2022

2021 was a breakout 12 months for the cryptocurrency sector and this 12 months is anticipated to see an extension of the “mass adoption” development.

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 important progress in 2022 are human sources (HR), worker cost options and platforms that serve the gig financial system by providing company blockchain options.

HR may pivot towards blockchain

Human useful resource administration is ripe for blockchain integration as a result of safety and knowledge storage options provided. Blockchain would permit every worker to have a novel handle the place all pertinent data may very well be cryptographically saved.

HR additionally offers with the recruiting and hiring of recent staff, an more and more troublesome job in right now’s world the place the labor pressure participation price stands at 61.9%, its lowest degree since 1976.

For blockchain-related jobs, the duty turns into much more difficult as a result of restricted variety of folks with the data and capabilities to work within the nascent sector.

Keep3rV1 is one protocol that focuses on connecting employers with employees, 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 might simply be expanded to serve a wider viewers of job seekers and employers.

Payroll additionally falls beneath the HR class and initiatives like Request (REQ) help a decentralized funds system the place anybody can request a cost and obtain cash by way of safe means.

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

The gig financial system

Trip-sharing companies like Uber and Lyft and creator/freelance marketplaces like Fiverr have been the bedrock of the gig financial system. 2021 estimates present that 36% of america workforce participated within the gig financial system both as their major or secondary supply of earnings. Knowledge additionally reveals that 55% of gig employees have been additionally working a separate major job.

Present projections point out that by 2023, as much as 52% of the U.S. workforce shall be actively working within the gig financial system or may have executed so in some unspecified time in the future of their profession, so it’s a rising subject that might profit from the combination of blockchain know-how.

One challenge that has already established its personal freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and cost processing protocol whose LaborX platform is just 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 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 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.

Most 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 resolution that was lately built-in with the Money App.

Different robust contenders within the subject of enterprise options embrace 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 ultimate 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 accordance with Hedera’s web site, the challenge is owned and ruled by a few of 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 giant companies that might require a major quantity of transactions to serve their world shopper base.

These use instances embrace cost 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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