The surging popularity of bitcoin and cryptocurrencies offers a vision of a more efficient world where individuals can deal directly with each other without trusted centralised institutions. There are many potential benefits behind blockchain, some of which depend on how the technology is used, yet its potential uses are still being determined.

Here are five ways blockchain is likely to change the face of innovation in 2018. 1.

Provide price stability to the crypto economy The volatility in cryptocurrencies is well-known and not for the faint-hearted, especially over recent weeks. Blockchain-based payment network Havven sets out to provide the first decentralized solution to price stability.

Designed to provide a practical cryptocurrency, Havven uses a dual token system to reduce price volatility. The fees from transactions within the system are used to collateralise the network, secured by the blockchain and supposedly enabling the creation of an asset-backed stablecoin.

Think of Tether, but not being tied to the dollar. Each transaction generates fees that are paid to holders of the collateral token and as transaction volume grows, the value of the platform increases. Read more from forbes.com…

thumbnail courtesy of forbes.com