On September 4, 2017, a Juniper Research study, titled The Future of Blockchain: Key Vertical Opportunities & Deployment Strategies 2017-2022, indicated a bullish sentiment for cryptocurrency markets.
In the first half of 2017, transaction values surged past $325 billion, two-thirds of which is attributable to the growth in the value of Ether, according to the research. Juniper expects the market to continue to grow, surpassing $1 trillion in transaction volume before the end of the year. Currently, trades on various cryptocurrency exchanges account for a daily volume of $2 billion.
The study also indicates that an upcoming planned fork, during which SegWit2x scaling protocols will be implemented for the Bitcoin network, in November may be fractious to the community. Research author Dr. Windsor Holden commented that this split could have negative effects on the value of bitcoin: “There is no resolution in sight to the continuing and fundamental disagreements between many Bitcoin miners and Bitcoin Core developers over the future of the cryptocurrency. This in turn could lead to uncertainty about Bitcoin’s future and downward pressure on its valuation.”
Juniper also claimed that private deployments of blockchain for permissioned ledgers, not public chains underpinning cryptocurrencies, are more likely to be the “brightest prospects” for use cases.
Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.