3 areas with great growth potential in 2022 thanks to blockchain

2021 is a boom year for the crypto sector and this year the trend of mass adoption is expected to continue.

Public awareness of blockchain technology is growing, and a new group of projects aiming to fill more niche roles in society are likely to emerge in the coming months.

Three areas with significant growth potential in 2022 are human resources (HR), employee payment solutions, and platforms that serve the contract economy by providing enterprise blockchain solutions.

HR can revolve around blockchain

Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain allows each employee to have a unique address where all relevant information can be cryptographically stored.

Human resources also deals with hiring and hiring new employees, an increasingly difficult task in today’s world where the labor force participation rate is 61.9%, the lowest level since 1976.

For blockchain-related jobs, the task becomes even more difficult due to the limited number of people with knowledge and work ability.

Keep3rV1 is a protocol focused on connecting employers with workers and decentralized job boards specifically designed to connect blockchain projects with external developers offering services.

KP3R/USDT daily frame price chart | Source: TradingView

While Keep3rV1 focuses specifically on blockchain developer jobs, if the model proves successful, the concept could easily expand to cater to a wider audience as job seekers and employers.

Payroll also falls into the HR category, and projects like Request (REQ) support a decentralized payment system where anyone can request payments and receive money in a secure way.

This is an ideal setup for freelancers. Pilot platforms like Sablier Finance are also giving workers the option to get paid for their work in real time, rather than waiting for the end of the pay period to receive a one-time paycheck.

The giga economy

Ride-sharing services like Uber and Lyft and creator/freelance marketplaces like Fiverr are the foundation of the gig economy. The 2021 estimate shows that 36% of the US workforce participates in the gig economy as a primary or secondary source of income. The data also shows that 55% of gig workers also have a separate main job.

*Gig Economy: An economy where people often work part-time or on a temporary basis, companies tend to hire independent and self-employed workers instead of full-time employees.

Current projections suggest that by 2023, up to 52% of the US workforce will be actively working in the gig economy or will be at some point in their careers, as this is a growing area to benefit from the integration of blockchain technology can.

One project that has set up its own freelance board is Chronos.tech (TIME), a blockchain-based recruitment, staffing, and payment processing protocol that features a LaborX platform similar to sites like Fiverr, but all transactions using blockchain technology and smart contracts.

TIME/USDT daily frame price chart | Source: CoinGecko

In addition to the Chronos.tech, LabourX, and PaymentX protocols, the ecosystem also recently added DeFi functionality by allowing holders to wager TIME on the protocol to earn profits.

Freelancers can wager TIME on the network to earn bonuses for completed tasks, while clients can wager to earn special promotions as a reward for holding tokens.

Companies rely on blockchain solutions

Enterprise-class blockchain-based solutions are expected to flourish in 2022 as well.

Many of the top contenders for enterprise solutions are Layer 1 blockchain protocols like Ethereum and its Hyperledger framework, or Bitcoin’s Lightning Network scaling solution, which was recently integrated into Cash App.

Other heavyweights in the enterprise solutions space are Fantom and the Polygon network, as they have lower transaction fees and faster processing.

FTM/USDT vs MATIC/USDT Daily Frame Price Chart | Source: TradingView

A final protocol that focuses specifically on creating an enterprise-class public network that enables individuals and businesses to build decentralized applications (dApps) is Hedera (HBAR).

According to Hedera’s website, the project is owned and operated by some of the world’s leading companies, including IBM, Boeing, Google, LG and Standard Bank.

The high-throughput nature of Hedera’s Hashgraph architecture makes it ideal for large enterprises that require a significant number of transactions to serve their global customer base.

These use cases include payment processing, fraud prevention, the ability to encrypt assets, verify identity, securely store and transmit data, and the ability to create a private blockchain for use.

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