Cryptocurrency is still perceived as a fluke by a minority who are not ready to embrace the immense benefits of transacting on the Blockchain technology. A careful and open-minded reading of this article would go a long way to reorient this stereotypic mindset.

The Bitcoin and cryptocurrency revolution was ignited a decade ago precisely on 31st October 2008, when Satoshi Nakamoto the Bitcoin progenitor published a white paper ‘Bitcoin: Peer-to-Peer Electronic Cash System’, as an alternative to our traditional money and financial system.

Bitcoin’s was first traded on March 17, 2010, on the now defunct platform bitcoinmarket.com, at a ridiculous value of $0.003. This crypto has gone through a lot of price variations which has culminated to an estimated 209,999,900% growth since inception up until now.

In 2017, a year which saw the cryptocurrency increase sporadically in value from around $1,000 per Bitcoin to almost $20,000 per coin in just a matter of months. This volatility was accounted for by the sudden interest of some money bags around the world who saw financial prospects and invested heavily.

However in recent months, Bitcoin has remained within the $6,200 and $6,800 range, the stability has so much favoured crypto buyers (Bulls). This anti-volatility trend has reduced FOMO (Fear of Missing Out), FUD (Fear of Uncertainty) etc and also proofs that this digital currency is maturing.

In the last decade, Blockchain and cryptocurrency slowly gained attention and mainstream adoption while tackling the issues of trust, scalability, security and regulatory uncertainty from Government & Financial institutions. In next 10 years, Bitcoin and its proponents would have experienced massive improvement due to ongoing research, development and innovations.

A few Blockchain disruptors include:

  1. Ethereum (Smart contracts)

  2. Propy (Blockchain in Real Estate)

  3. IoTA (Internet of Things)

  4. DASH (instant, private payments)

  5. STEEMIT (Social media that pays

The Future of Bitcoin and Blockchain

The following predictions are from financial experts and experienced Blockchain enthusiasts.

  1. Financial Power Just like any startup, the initial stages are usually somewhat rocky and unstable, but there’s hope that the next 10 years will bring more decentralization, better technology, but most importantly — financial power to the people.

  2. Fiat vs Crypto: There’s an ongoing shift away from fiat money, and the momentum of this is only set to increase over the next 10 years.

  3. Mainstream adoption: In 10 years, Bitcoin will still be the dominant cryptocurrency, the gold standard in the crypto-world. It will enjoy a much more widespread adoption, and its technological features and user-friendliness will have been greatly improved.

  4. Standardisation: Marshall Hayner who started mining Bitcoin in 2009 opined “I have seen these run-ups and drops in bitcoin and I didn’t even flinch. I believe in this technology. I really believe that bitcoin is the next digital gold.”

  5. Stability: Israeli entrepreneur Daniel Peled, who has been buying Bitcoin since late 2013 shared, “If the price goes down, I am happy because I was able to sell some. And if it goes up, I am happy too because I am still holding some.”

  6. Disruption: Blockchain technology will be as transformative to our daily lives as the internet was. Email to the internet is the equivalent of bitcoin to blockchain. It brought the underlying technology to the masses. “While the internet revolutionised the transfer of information, blockchain will reshape the transfer of value”

  7. Banking the Unbanked : The best thing about cryptocurrency is the control it gives to individuals over their personal finances. No longer do we have to depend on (or trust) big banks who don’t always put individual needs above their own. The true beauty of crypto lies in its ability to give power back to individuals who have been habitually neglected by traditional financial institutions.

  8. Adoption by Regulatory bodies: Central banks and governments all over the world tried to kill Bitcoin, albeit unsuccessfully. Having failed severally to kill it, they have decided to become its champions and proponents. For example: Sweden is now seeking to move to a purely electronic system and do away with the burden of maintaining physical fiat currency.”

  9. Future of Business: With regards to business we believe that in the future all assets will be tokenised and that we will see the greatest transfer of wealth ever onto the blockchain. The pace of development of cryptoassets and the examples of tokenised gold, diamonds and art show that this vision is not far-fetched and that the creation of bitcoin was just the first step.

  10. R&D and Innovations: The entire industry that is currently engaged in extensive R&D in the fields of cryptography, data security, privacy, and self-sovereignty.

Conclusion

Ask yourself where Bitcoin will be in another ten years. Right now the technology is maturing, but the next ten years will reveal the real fruits of the wider blockchain community’s labour

Looking to the next decade, it’s believed we will be living in a crypto-integrated world as Fortune 500 corporations and governments alike are forced to understand and learn how to embrace the new technology.

You can either watch this from afar or from within. The choice is yours.