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Blockchain and Web3, trends in 2024

The year 2023 has been a year of great challenges and opportunities for the crypto and web3 ecosystem.

On the one hand, we have seen that the market has undergone a large correction in the volume of market capitalization, which has affected both the price of Bitcoin and the rest of Altcoins, we have had significant news about regulatory uncertainty and hacker attacks or fraudulent projects, among others.

On the other hand, we have also seen significant progress in the development and adoption of web3 technology in the pursuit of a more decentralized, secure and participatory Internet, highlighting new scalability and interoperability solutions for the Ethereum network. This allowed it to improve its performance, increase its connectivity with other blockchain networks or investment, and increase the support of companies and organizations in the sector, highlighting the potential of blockchain to transform various sectors of the economy and society.

  • What awaits us in 2024?

Looking ahead to 2024, with the approval of ETFs and the halving of Bitcoin around, not only is a general reactivation expected in the price of Bitcoin and other altcoins, but the sector is also expected to continue to grow and strengthen, while at the same time improving the user experience and to continue to provide solutions that continue to ensure consumer protection and privacy.

Forecasts on the trends that will exist in the sector and must be taken into account:
- Artificial Intelligence applied to Blockchain.
- Appearance of Real World Assets.
- GameFi.
- NFTs beyond digital art.

  • Artificial Intelligence applied to Blockchain

Artificial Intelligence (AI) has the potential to change many aspects of life and society, but it can also be a key factor in the development and adoption of cryptocurrency, blockchain technology and Web3.

  • The evolution and accessibility of AI

AI is not a new thing, but it has evolved a lot in recent years, thanks to the development of products that make it more accessible and useful to people, especially those based on creative AI. These products use models that can learn from data and create something new, such as OpenAI's ChatGPT or Google's Bard chatbots.

  • Content creation and authenticity

Generative AI can create all kinds of content, but it can also raise questions about its origin and authenticity. To solve this, tools such as cryptographic keys and blockchain technology can be applied, which allow to verify the authenticity and identity of content and people.

  • Collaboration between AI and Web3

AI and Web3 can positively collaborate as they can leverage shared data management, especially private and sensitive data such as medical records, as well as content verification and prevention of deepfakes, which are fakes created with creative AI.

  • Protection and security through cryptographic technology

To prevent manipulation, cryptographic private keys and digital signatures can be used to ensure the origin and truth of the content. Other benefits could be privacy protection from AI models or reliability of payments.

  • Challenges and future potential of AI and Blockchain

Intel and everything related to blockchain have tremendous potential to change the future, but they also have to overcome challenges and difficulties to demonstrate their value and utility in solving real problems and meeting the needs of people and industries.

  • Appearance of Real World Asstes

Real World Assets (RWA) are real-world assets that are converted into digital tokens using blockchain technology and smart contracts. These tokens can be fungible or non-fungible (NFT) and represent ownership rights to assets.

The tokenization of RWA has the potential to transform many sectors and markets by enabling asset allocation and trading in a more efficient, secure and transparent manner. It also opens up access to new investment opportunities and greater liquidity, especially for illiquid assets such as real estate, art or private equity itself.

RWAs are also of great importance to the crypto space, as they can connect traditional financial assets with decentralized finance (DeFi), providing financial products and services without intermediaries and at lower costs; therefore, investors and participants will be able to use loans, liquidity pools or shares thanks to RWA tokens.

This trend can bring many benefits, such as saving money by eliminating intermediaries, improving the accessibility and transparency of assets, solving the liquidity problem of traditional assets and especially a new public that is more skeptical about the use of cryptocurrencies attracting.

 

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