Cryptocurrencies, along with blockchain technology, are changing the world as we know it. What began as a way to exchange digital currencies online is now providing us with a plethora of new ways to manage finances, green energy, and even donations to human rights charities. The blockchain, with its full transparency and ability to make transactions in mere seconds, is a technology that has been changing our ways for some time now--and in 2018, it has many potential trends.

To learn about these trends, read on:

1 Merging of blockchain with AI and IoT

Already, we’re seeing huge developments in the AI world. Brick-and-mortar stores are using sensors to help them research what products their customers are most interested in, and companies like Angee are creating smart AI-powered home security systems. It’s an exciting development for all of us--but it’s important to remember that now, when we’re so connected to our devices, spending over four hours a day on our phones, there are security issues to worry about.

That’s where blockchain technology comes in. According to Fintech Weekly, “Blockchain technology can be used to patch holes in trust within the ecosystem. With transparency and permanence inherently part of its operational model, providence of devices and data become possible at scale...A scalable, secure, and easily vetted platform that blockchains create is a level of security that even has governments exploring it for official uses.”

2 Humanitarian applications

When it comes to distributing aid throughout the world, especially in a humanitarian crisis, it can be a tricky process. There are so many details to think about, such as how much aid is going where and to whom. It can even become corrupt, and create a slew of problems, as is going on right now with the Oxfam scandal.

Already in 2017, according to Consensys, “we saw the World Food Program employ Ethereum to distribute 1.4 million food vouchers to 10,500 Syrian refugees in Jordan. And it is aiming for one million transactions, per day. This innovative program, dubbed “Building Blocks,” demonstrates how database efficiency will deliver tangible benefits to the most vulnerable.” We are only going to see more of this in 2018, which is why it’s no surprise that the prices of Ethereum, Bitcoin, and Litecoin are expected by experts to rise significantly in 2018--and why cryptocurrencies such as TrustToken are being used to replace other less stable currencies.

3 Financial sector

It’s not lost on banking institutions, the great potential that blockchain has to simplify transactions and make them faster. So now that it’s becoming a more trusted technology, big banks are turning to it. According to Finextra, “Larger banks, including correspondent banks, will increasingly be interested in the blockchain payment systems, because they are tempted by the advantages blockchain may bring in terms of real-time processing, lower risk profiles, lower costs and transparency.”

Considering that people are paying up to $50 for international wire transfers, an undertaking that is already a complicated and surprisingly slow process for anyone used to technological advances we already have in 2018, it’s no surprise that banks are looking to use blockchain. This will make a difference not only for banks but also for their customers, who will be able to focus on larger plans like loans instead of having to worry about small details like the time spent verifying transactions.

4 Green businesses will get greener

According to Hackernoon, one of the most exciting changes associated with blockchain is the development of green currencies, such as NewsEra, a blockchain-enabled carbon credits certification protocol: “This company has created a decentralized platform to incentivize and accurately record a cleaner individual energy footprint. Individuals produce Emission Reduction Units, which can be exchanged to NewEra Tokens for use within the community.”

Considering that a shocking 91 percent of plastic isn’t recycled, the potential of these technologies to make the world greener is going to make a great difference in 2018.

5 More ethical business practices

When it comes to being a business, there are problems to watch out for, such as debt or accidentally hiring the wrong people. But other businesses, especially those involved in international trade in regions with violence, have to face larger problems, many of them ethical in nature. For example, according to a 2015 study by the Enough Project, main armed groups in the Central African Republic end up making between $3 million and $6 million each year from blood diamonds.

Luckily, De Beers is partnering with the Kimberley Process to change this--by using blockchain to make the process of buying diamonds transparent, which means more ethically-responsible purchasing. According to Reuters, “The diamond blockchain, which De Beers says will be the first to span the entire value chain, would be open to everyone in the industry and would offer the potential for monitoring each stone.”

As you can see, blockchain is bringing some great changes in 2018. What changes are you excited about?