In 2022, blockchain utilization is expected to continue expand in the US. Here are four business applications that are expected to turn to blockchain solutions in the near future.

In 2022, cryptocurrency is projected to continue its upward trend in popularity and see further mass adoption.

Blockchain technology is becoming more well-known, and a new generation of projects aiming to fill numerous societal gaps is anticipated to emerge in the near future.

In 2022, four sectors will profit from corporate blockchain solutions, including human resources (HR), gig economy, employee payment systems, and the retail sector.

HR-Crypto Adoption

Because of the high security and data storage solutions available, human resource management is an excellent opportunity for blockchain integration. Blockchain would enable each worker to have a unique address where all essential information could be cryptographically stored. 

HR also pertains to finding and hiring new people, which has become increasingly difficult in today’s world, when the labor force participation rate is at 61.9%, its lowest level since 1976. A global platform for matching companies with prospective employees can be built on blockchain technology.

Due to the few number of people with the expertise and skills to work in the nascent sector, blockchain-related employment becomes even more challenging.

Gig Economy – Crypto Integration

Cryptocurrencies are particularly well-suited to handle payments in the gig economy because they offer fast, low-cost transactions with little to no risk of chargebacks. In a nutshell, these advantages could soon lead to US crypto mainstream adoption in the gig economy sector.

The gig economy was built on the foundation of ride-sharing services like Uber and Lyft and freelance marketplaces like Fiverr. The gig economy is expected to account for 36% of the workforce in the United States by 2022. According to data, 55 percent of gig workers had separate main employment.

By 2023, over 50% of the American workforce is expected to be actively working in the gig economy or have done so at some point in their career. According to current projections, making it a fast-growing sector that may benefit from cryptocurrency payments integration.

Employee Payments-Crypto Adoption

It is not just small businesses that feel the pain of high credit card processing fees. Large corporations are also searching for better solutions. For many years, large companies have been using “purchasing cards” as a way to circumvent these fees, but even this workaround is becoming less and less feasible.

Enter blockchain and Bitcoin. These two technologies have the potential to revolutionize the way payments are made. Not only do they offer a secure and trustless method of payment, but they also allow for near-instantaneous final settlement.

This would be a major shift away from the current system, which can take days or even weeks to settle transactions. Additionally, there is the potential for the losses associated with credit card chargebacks.

Bitcoin and blockchain could greatly reduce the processing fees while still providing essential security and finality for businesses.

US Crypto Mainstream Adoption 2022 in the Retail Sector

The retail sector is another area where blockchain technology could see widespread adoption. There are numerous use cases for blockchain in this industry, including:

  • Product tracking
  • Supply chain management
  • Customer loyalty programs
  • Payment processing
  • Fraud detection

All of these areas could benefit from the introduction of blockchain technology. Product tracking is one of the most obvious use cases for blockchain in retail.

With a distributed ledger, retailers would be able to track products from the moment they are manufactured until they are sold to the customer. This would not only help with ensuring product quality but also with preventing counterfeiting.

Frequently Asked Questions

Can crypto make a real impact in the USA in 2022?

Cryptocurrencies present a unique opportunity for US crypto mainstream adoption in 2022. They offer a fast, low-cost way to make payments with little to no risk of chargebacks. This could lead to widespread adoption in the HR, retail, and gig economies.

How will the cryptocurrency market change in 2022?

Cryptocurrencies are still in their early stages of development, and their future is difficult to predict. However, they are likely to become even more popular in 2022 as more people learn about them and the potential benefits they offer.

Why hasn’t the US adopted blockchain technologies yet?

There are several reasons why blockchain has not seen widespread adoption in the US yet.

One of the main reasons is that most people do not understand what it is or how it works. Additionally, there are concerns about security and volatility. These issues will need to be addressed before blockchain can see mainstream adoption in the US.