As per a recent statement, MIT Technology Review, an independent magazine owned by the United States Massachusetts Institute of Technology (MIT), published an article on Wednesday, Jan. 2nd 2019, titled -“In 2019, blockchains will start to become boring”.
The article argues that the blockchain technology was a revolutionary thing that disrupted the global financial system in 2017, but 2018 was a complete disappointment, the blockchain tech — amid the decline of all cryptocurrencies, was just a letdown.
However, the article, at the beginning of the new-year 2019, still says that there are many innovative-sounding projects still present that are alive and running seamlessly, bearing fruit. Along with many large entities planning for their major blockchain-projects launch in 2019, the blockchain tech is seemingly attaining some kind of stability and normalcy.
The article further cites entries of New York Stock Exchange (NYSE) owned by Intercontinental Exchange (ICE) and Fidelity, a Boston-based investment giant into the crypto space, as an example of industry transformation. Adding further the article mentions the improvement in smart contract technology, which will be enabled for its extensive use in the legal sector.
Finally, the article argues that this normalization, which the article mentions, will significantly reshape the cryptocurrencies and blockchain ideology. Crypto’s image as an anti-government movement is finally clearing, thanks to national cryptocurrencies, -let them be Venezuela’s Petro or other state-backed coins.