Venture capital firm a16z is predicting impending changes in the world of blockchain technology – making it more user-friendly and accessible for everyone. According to its annual trend report, a16z is anticipating developments in the field of decentralized applications (dApps) by 2024. To facilitate the usage of dApps, improvements to UX tools such as passkeys and smart accounts is predicted, eliminating much of the complexity involved in such activities, making sovereignty over one’s crypto wallets easier.
A16z is further envisioning the combination of Artificial Intelligence and blockchain technology, powering new innovative applications. From using AI to provide an unmatched personalised experience, to leveraging blockchain to guarantee fundamentally-sound AI-generated content, everyone emerges a winner.
The report also hailed the power of NFTs as valuable brand assets in markets of 2024. Brands using NFTs to engage with customers, generate additional revenue streams, and add a unique flavor will become omnipresent. Also seen as becoming mainstream is SNARKs (Succinct Non-interactive ARguments of Knowledge) – a type of cryptography that can be utilised in authentication activities such as verification of digital content, confirmation of smart contracts, etc., without revealing raw data.
