Despite all tensions around Bitcoin and other major cryptocurrencies, many technologies tend to use digital currencies as an integral part of its systems. Although digital money has an opportunity to replace fiat money, as well as other physical assets, they are still not ready to fulfill certain economic requirements. If you missed the latest trends and want to catch up – then read the blog below.
Currency for Smart Cities
“Smart cities” have long passed from the category of fiction to reality. The most innovative technologies have come together to create a new generation of public organizations. Machine learning, the Internet of things, automation – all this is designed to create a single intelligent ecosystem for people’s lives. And an important role in it is played by blockchain and cryptocurrencies. One of the main directions of a smart city is energy efficiency management. Thanks to the sensors, you can control the brightness of street lamps and reduce it when there are no cars and people on the roads. Also, thanks to the analysis of metadata arrays, you can unload drives during rush hour and make public transport as comfortable as possible for citizens. All these fantastic features are accessible since Smart Cities + Blockchain is more than a combination of technologies. But what role do cryptocurrencies play in smart cities? Communication in such systems occurs not only between people and services but also between machines and robots. Therefore, tokens made transactions within these networks possible. Cryptocurrencies can also be part of a loyalty system or a medium of exchange.
AI is Getting Better
Artificial intelligence and blockchain today are powerful engines of innovation that make fundamental changes in all aspects of society and promise the growth of the global economy. The future has already arrived: robotic cars and polite artificial assistants are appearing, able to make appointments on your behalf, conducting natural and significant communication. The blockchain can be used as the basis for decentralized trading platforms and coordination platforms for various components of AI, including data, algorithms, and computing power. This could contribute to entirely new levels of innovation and the scale of the use of artificial intelligence.
Social Trading
By social trading, we mean services or companies with functionality that allows traders to share their deals or trading signals with other traders. Many inexperienced traders find this way convenient. So far, not many exchanges are ready to provide users or traders with such a method. Gladly, there is a startup that wants to fulfill this gap. Binaryx is a revolutionary social trading and exchange platform that allows all traders to buy and sell Bitcoin, Ethereum, and other cryptocurrencies with better features. Moreover, Binaryx is featuring a marketplace for all traders. Mainly, this system allows traders to gain a reputation based on their trading performance. Other registered users have an opportunity to improve their trading skills by hiring expert traders, according to the system rankings. Not only they can start buying and selling Bitcoins, but also faster learn how to operate on the market in many situations.
IoT
In 2017, the number of devices connected to the Internet, according to Statista, exceeded 20 billion units. By 2020, there will already be about 50 billion. The Internet of things is not only an executive refrigerator, which itself orders the owner’s favorite food, or a helpful kettle that boils water on demand from a smartphone. These are smart sensors in the fields, drones with cameras, thanks to which you can remotely monitor the condition of soils, these are sensors in public transport and unified systems for tracking the life of the city. In other words, in a few years, the world around us will become the Internet of things. Particularly active IoT is developing in the agricultural sector, logistics, Smart City. That is, where there is a need for remote monitoring of the state of objects or the collection of big data for subsequent analysis. IoT allows you to save on equipment maintenance: sensors collect information about its condition, so maintenance and repairs are carried out exactly when it is needed.
Government Integrations
Many governments from the well-developed countries approve cryptocurrencies, but they raise concerns about some aspects. China is currently adopting the Blockchain and cryptocurrencies as the main course of their internal politics. China intends to become a global technology leader in almost all areas, from blockchain to artificial intelligence. Many experts say that China is actively developing the domestic technology sector, despite the trade war between the US and China.
Conclusion
Overall, we can see that cryptocurrencies are only increasing their role in many industries and fields. The modern technology is approving Blockchain and digital money, as they understand how many prospects and profits it may give.