The technology powering the cryptocurrency is growing at a fast pace. The companies have identified the use of blockchain in various fields. A report by PwC and CV VC, a Swiss blockchain investment company, talks about the areas where blockchain tech will flourish. Here are four fields where blockchain will be relevant.
1. Art market
The art market has been one of the most lucrative and attractive areas of investment. The space is relatively inaccessible as it is difficult to get an overview of the market without expertise. With Blockchain technology, companies can tackle these issues. Art and tech companies are working together to create necessary tools, helping the artists to validate and track artworks.
2. Crypto banks and brokers
Cryptocurrency companies have already started expanding their offerings to include features such as internists and loans using digital assets. The crypto banks and brokerage firms have played an important role in driving the mainstream adoption of blockchain.
3. Custodians
Cryptocurrency custodian services have also been on the rise as regulatory development is implemented across various regions. The custody market is often overlooked. Custody provers are critical for the crypto adoption within institutional space.
4. Market makers
Market makers or liquidity providers are companies that buy and sell price of a token, which is crucial for providing a functional market. The digital asset ecosystem can succeed if exchanges, token issuers and liquidity providers collaborate to ensure liquid markets. The fintech companies with a focus on providing digital assets will drive the biggest adoption of blockchain technologies.
Top blockchain growth trends to watch in 2020
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