Cryptocurrencies gripped the world by storm in 2017. Bitcoin surged to over $20,000 in price. The average ICO yielded a return of more than tenfold. Traditional Also, VC funding has been exceeded by ICO funding. Everybody has adopted blockchain technology as their new buzzword of choice. Is this all just hype? Or there’s something more to it?

There’s a bigger picture. Blockchain technology is all set to make worldwide advancements in terms of our living and earning standards, making drastic transitions from a tangible-based economy to an intangible one.

Human life & technology by 2030

In 2022, there will be more than 1.35 million tech companies worldwide, all vying to lead the next generation of scientists and engineers who see a better future for humanity. According to a study, more than 4.66 billion people are online now, with the number expanding at a rate of 127 devices each second.

While technology appears to be progressing slowly since it is a part of daily life, the rate of technological advancement since the century has been nothing short of revolutionary – in industries like energy, medical, communication, transportation, finance, robots, and many more.

Nonetheless, with no one stepping on Mars, nuclear fusion still fails to provide 100% clean energy, and no flying automobiles, technological progress will continue. Nevertheless, we have come up with some of the most cutting-edge technical developments that, by 2030, guarantee a fascinating human existence.

Below is a deeper look at the world’s future in the coming years, from AI robots to blockchain-based privacy models to new decentralized game worlds. But, first, let’s have a closer look at these advancements.

Artificial Intelligence & Machine Learning joining hands with Blockchain

Artificial intelligence (AI) and its subset, Machine Learning, are at the forefront of futuristic technology (ML). These two technological breakthroughs have been widely publicized in science fiction films and, more lately, in mainstream media outlets. But, believe it or not, technology is more than just a marketing gimmick.

The worldwide AI and machine learning areas were valued at $327.5 billion in 2021, and they are predicted to produce more than $500 billion by 2026. While AI is still in its early stages, it is already being utilized in various industries, including voice recognition, personal home assistants, ride-sharing applications, the automobile industry, navigation apps, etc.

In the future, AI technologies may be combined with blockchain technology to provide users of AI-enabled systems with greater efficiency, transparency, and privacy. As Blockchain becomes more prevalent, AI initiatives will benefit from the technology’s immutability, transparency, and decentralization.

Combining these two technologies will generate a market for AI-enabled smart contracts, safe blockchain automation, and improved robotics data collecting in the future.

Decentralized Finance (DeFi) and community VCs

To stay up with the rapid changes in technology, investment and the world of finance will need to evolve as well. Even though the concept has many detractors, all present financial systems will be digitized by 2030, based on what blockchain technology can achieve now.

Decentralized finance (DeFi), for example, has revolutionized the way people across the world think about money more quickly than any other prior financial revolution. Moreover, DeFi is beginning to provide an alternative that has the potential to reshape the economic landscape and democratize financial access.

Raising funds will shift from a debt and equity structure to a community-driven strategy as the financial industry becomes more digital and decentralized.

Decentralized identity systems

While there isn’t much that can be stated about how people will be identified in the future, blockchain technology is transforming identification systems now. Biometric security systems were not prevalent less than two decades ago, but they are now widely available on our cellphones.

While palms and fingers have been scanned for identification in the past, the future may be very different. By 2030, we may be able to be recognized by our DNA fingerprint or biometric methods that are significantly superior to those already in use, such as implanted sensors.

Due to their immutability and security properties, blockchains, like AI and ML technologies, may become a critical aspect of identification in the future.

Bottom line

By 2030, the digital world will undoubtedly have evolved to predict what it will look like would be nearly impossible. Nevertheless, there is a lot to look forward to, from visiting other planets to developing flying robots, mining asteroids, anti-ageing pharmaceuticals, flying automobiles, underground highways, artificial general intelligence on robots, and digital financial breakthroughs.

However, as in the past, technology has the potential to bring out the best and worst in us in equal proportion — the aim is that whatever technology exists in 2030, how we utilize it will determine its worth to us, regardless of whether we achieve everything outlined above.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.