New Trends in Blockchain Technology Development: Large-scale Commercial Applications and Data Privacy Protection

At a recent blockchain industry summit, a well-known expert delivered an insightful closing speech. He pointed out that the large-scale commercial application of blockchain requires meeting three key conditions: mature technology, stable digital currency support, and comprehensive legal regulation.

This expert believes that 2019 could be a key year for the development of Blockchain technology. By then, several new technologies aimed at improving Blockchain performance, usability, and scalability are expected to mature and go live, providing a solid foundation for commercial applications. He predicts that next year may see large-scale commercial implementation based on Blockchain.

However, technological maturity is just the foundation. To achieve large-scale application in the true sense, reliable digital currencies are needed as payment tools and measures of value. Recently, some regions have begun to approve the issuance of stable digital currencies backed by fiat currencies, which is a positive signal. However, experts believe that state-backed digital currencies are the best solution.

In terms of legal regulation, the expert emphasized the importance of compliance. He pointed out that the Blockchain economy must obtain legal protection, and decentralization is not applicable in this field. Recently, some countries have begun to incorporate digital currencies into the scope of securities law, which will have a profound impact on the development of the industry.

In addition to technology and regulation, this summit also focused on an emerging topic: data privacy protection. Experts believe that the combination of Blockchain and encryption algorithms provides an ideal solution to this problem. With the development of artificial intelligence technology, the value of data is becoming increasingly prominent, but ordinary users often cannot control their data sovereignty. Blockchain technology is expected to help users regain data sovereignty and share data value through cryptographic methods such as zero-knowledge proofs and homomorphic encryption.

Looking to the future, experts predict that more cryptographers and entrepreneurs will enter the Blockchain field, driving research and practice related to the technology. Data privacy protection is expected to become a new trend in Blockchain development, bringing new opportunities and challenges to the entire industry.