F\u00e1bio C. Canesin, SCB Contributor<\/div>\n
Out of the coronavirus pandemic will emerge a new digital society status quo \u2014 one that will accelerate major technological advances that are already underway. Among the many important innovations that the pandemic will push forward are blockchain and cryptocurrency.<\/p>\n
What is it about this uncertain global climate that will make 2020 such a pivotal year for those two innovations? Here are some predictions for the blockchain space and digital currency for the remainder of the year, as well as how they\u2019ll be affected by the coronavirus.<\/p>\n
During 2020, blockchain will continue to grow in the finance sector, ahead of other industries. Applications such as food tracking, goods authentication, and storage of sensitive data involve significant regulatory work to tie real-world objects to their tokenized equivalents.<\/p>\n
The most significant breakthrough in this area that we\u2019ll see is the application of blockchain\u2019s fundamental technology to sovereign currencies. China might well attempt an experiment in a model city like Shenzhen this year, and Sweden is another country interested in this possibility.<\/p>\n