Zilliqa is an interesting project, one that aims to solve the scalability issues of blockchain technology through Sharding. Zilliqa (ZIL) is widely expected to surge in price in early 2019, after the mainnet launch. However, over and beyond these short-term pump expectations, Zilliqa is a project that has lots of potential in the market. There are a number of external factors that support its long-term success in the market.
One of them is that Zilliqa is based in a country that is quite receptive to DLTs. Zilliqa is based in Singapore, a country that has so far, shown lots of support of new technologies, especially DLTs. So receptive is Singapore that way before the crypto pump of 2017, the central bank of Singapore was researching on DLTs through Project Ubin. According to the Monetary Authority of Singapore project Ubin
“… Is a collaborative project with the industry to explore the use of Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities. DLT has shown potential in making financial transactions and processes more transparent, resilient and at lower cost. The project aims to help MAS and the industry better understand the technology and the potential benefits it may bring through practical experimentation. This is with the eventual goal of developing simpler to use and more efficient alternatives to today’s systems based on digital central bank issued tokens.”
Singapore’s support for DLTs is a major strategic boost for Singaporean projects because it creates an incentive for their adoption by industry. For instance, if a huge disruptive Dapp were to be built on Zilliqa with a target of the finance industry, there would be little regulatory hurdles to its adoption. That’s because the central bank of Singapore already support such innovations Zilliqa being a homegrown project makes things easier in terms of regulatory approval. Regulations are very important to the future success of DLTs and the fact that they do favor Zilliqa in a country as important to the tech world as Singapore, is quite a boost to its future.
Singapore also happens to be a high-tech economy, and its industries have a strong use case for DLTs. Just recently, Dyson, a major British company announced that they will be building their electric cars in Singapore. The electric and smart car market is one that has a massive use for DLTs, and with its high scalability and POW based security, Zilliqa stands to gain adoption in this market. There are many more high-tech industries in Singapore where Zilliqa will have a strong use case and gain significant levels of adoption in the future.
With such a strategic edge in a country as important as Singapore, there is no doubt that it is headed for some huge moves going into the future. Of course, the Zilliqa team, which has so far been very professional in their activities will play a huge role in the growth of Zilliqa (ZIL) in the future.
This is a top project in the making. The launch of the mainnet could open the floodgates of projects launching on Zilliqa.