3 ways blockchain technology will go further mainstream in 2022

2021 has been a breakout year for the cryptocurrency industry, and this year is expected to see a continuation of the trend of “mass adoption.”

Public awareness of blockchain technology is on the rise, and the coming months are likely to see a wave of new projects aimed at filling more niche roles in society.

Three industries that are likely to see significant growth in 2022 are human resources (HR), employee payment solutions, and platforms that serve the gig economy by providing enterprise blockchain solutions.

HR may turn to blockchain

Blockchain-integrated human resource management has come of age due to the security and data storage solutions provided. Blockchain will allow each employee to have a unique address where all relevant information can be stored encrypted.

Human resources are also responsible for recruiting and hiring new employees, an increasingly difficult task in today’s world of increasing labor force participation. stand 61.9%, the lowest level since 1976.

For blockchain-related jobs, the task becomes more challenging due to the limited number of people with the knowledge and ability to work in the emerging field.

Keep3rV1 is a dedicated Connect employers with workers, while a decentralized job board is dedicated to connecting blockchain projects with external developers who provide professional services.

KP3R/USDT. 1 day chart. Source: TradingView

While Keep3rV1 is specifically focused on the work of blockchain developers, if the model proves successful, the concept could easily be extended to serve a wider audience of job seekers and employers.

Payroll also falls under the HR category, and projects like Request (REQ) enable decentralized payment systems where anyone can request and receive money in a secure way.

This is an ideal setup for freelancers. Experimental platforms such as Sablier Finance also offer employees the option to pay their labor in real time, rather than waiting for a one-time payment after the pay period ends.

gig economy

Ride-sharing services like Uber and Lyft and creator/freelancer marketplaces like Fiverr are the cornerstones of the gig economy. 2021 estimates show 36% of the U.S. workforce participate in the gig economy as their primary or secondary source of income. The data also shows that 55% of gig workers also work in separate primary jobs.

current forecast show By 2023, as much as 52% of the U.S. workforce will be actively working in the gig economy, or have already done so at some point in their careers, so this is a growing market that could benefit from the integration of blockchain technology. field.

One project that has created its own freelancer job board is Chronos.tech (TIME), a blockchain-based Recruitment, HR and Payment Processing Protocol, its LaborX platform is similar to sites like Fiverr, but uses blockchain technology and smart contracts for all transactions.

TIME/USD 1-day chart. Source: CoinGecko

In addition to the Chronos.tech, LaborX, and PaymentX protocols, the ecosystem has recently added decentralized finance (DeFi) capabilities, allowing TIME holders to stake their tokens on the protocol to earn yield.

Freelancers can stake TIME on the network to receive bonuses for completing tasks, while clients can stake to receive special rebates as a reward for holding tokens.

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Enterprises adopt blockchain solutions

Enterprise-grade blockchain-based solutions are also expected to flourish in 2022.

Many of the top contenders offering enterprise solutions are layer 1 blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s recently introduced layer 2 Lightning Network scaling solution Integrate with Cash App.

Other strong contenders in the enterprise solutions space include the Fantom and Polygon networks due to their lower transaction fees and faster processing power.

FTM/USDT vs MATIC/USDT 1-day chart. Source: TradingView

Hedera (HBAR) is the definitive protocol specifically focused on creating an enterprise-grade public network that allows individuals and businesses to create decentralized applications (DApps).

According to Hedera’s website, the project is owned and managed by some of the world’s leading organisations, including IBM, Boeing, Google, LG and Standard Bank.

The high-throughput nature of Hedera’s hashgraph architecture makes it ideal for large enterprises that require a large number of transactions to serve their global customer base.

These use cases include payment processing, fraud mitigation, asset tokenization capabilities, authentication, secure storage and transfer of data, and the ability to create private, permissioned blockchains for internal use.

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