Biggest Trends

The Top Six Biggest Trends for 2021

There are many big-name companies that have recently entered the foray into the distributed ledger technology realm, but which is the “Six Biggest Blockchain Trends”? To name a few, MasterCard, Visa, BBVA, Santander, and Discover are all investing in this new frontier of global payment innovation. They are joining forces to jointly develop industry standards for distributed ledger technology and the industry will no doubt benefit greatly from their collaboration. But which companies really stand to gain the most by working with each other? 

Transactional industry

The first and foremost industry player is money. All of the aforementioned players have developed robust payment processors that are capable of processing millions of transactions daily. In fact, Santander and Discover processed more than two billion pounds last quarter alone. This amount of transactional business could translate directly into market share gains for these brands. 

Banking industry

Next on the list is the banking industry. The world’s largest financial institutions are quickly learning that they must evolve to remain competitive in the ever-changing landscape of the financial services industry. By joining forces with industry giants like Santander and Visa, the banking industry can not only improve its own functionality, but also work to create new market opportunities for itself. 

Manufacturer

The third largest player in the emerging ecosystem is the manufacturer of software tools and hardware solutions. As the manufacturing process continues to advance, software tools and hardware systems become more powerful and sophisticated. Manufacturers who can provide the industry with the most cutting-edge tools and systems are going to be highly valued by clients and peers in the industry. If a manufacturer is not competitive, then it stands to reason that the company might lose its place in the sun. Clients and peers must therefore reward quality and value if they want to continue getting the goods and services they need. Otherwise, they risk seeing their competitors succeed and move on to greener pastures. 

Tokenization

The fourth largest industry element is tokenization. tokens are used as an intermediary between buyers and sellers, facilitating real-time trade between them. Interoperability between the different devices and applications is one of the biggest advances of tokenization technology. It allows industries to leverage multiple functions across diverse devices, increasing operational efficiency and lowering costs. tokenization will continue to play a huge role in shaping the next decade. 

Retail

The next six disruptive technologies are retail, travel, hospitality, education, data-warehousing and manufacturing. While each of these sectors represents a distinct section of the global economy, they are intimately connected with one another and all have the potential to dramatically impact business models. In fact, the top six trends for the coming year all point to the growing interconnection of the digital economy. This means that, much like the Internet, the world’s information will flow closer together, resulting in improved productivity and increased efficiency at the same time. With the potential for six trillion dollars of revenue in the next five years, this represents a very significant sum of money. 

The last one on the list, data-warehousing, is perhaps one of the most important of the six biggest trends expected in 2021. Enterprises all over the world are realizing the need for information security to ensure the confidentiality of their customer’s data. As a result, there is no turning back as companies are beginning to build massive databases that hold sensitive business information. In fact, some of these large data centres are powered by several worth of data, which represent the equivalent of two billion books. 

These are the six biggies. If you’re not familiar with them, take a moment to review their brief descriptions. Next time you go shopping, pay with a debit or credit card and enter your credit card information. When you do, chances are big online retailers such as Netflix, Amazon, and Google are using that information to personalize your experience and provide you with the best price. If you are watching TV or listening to the radio, chances are the commercials are being delivered by a digital network. Each one of these businesses has a significant impact on the way we live our lives, and the times that follow will be shaping up much the same way.

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