Blockchain

• [New] Financial institutions acknowledge that Blockchain technology will save billions of dollars for banks and major financial institutions over the next decade.
• [New] Blockchain technology will create more than $176 billion worth of business value by 2025, and $3.1 trillion by 2030.
• The Excise Department within Thailand's Ministry of Finance plans to implement blockchain technology to improve its revenue collection systems in the coming year.
• Total spending on integrating blockchain into healthcare is forecast to rise to $5.61bn by 2025.
• Blockchain technology has become invaluable in the world, and its use is only going to increase in the coming years.
• Walmart and its Sam's Club division are using a farm-to-store DLT tracking system for some produce and expect to require their suppliers of leafy green vegetables to use blockchain tracking technology.
• By 2023, organizations using blockchain smart contracts will increase overall data quality by 50%, but reduce data availability by 30%, conversely creating positive data and analytics ROI.
• The global blockchain technology market is anticipated to reach USD 90.63 Billion in 2027, growing at a CAGR of 74.5% between 2020 to 2027.
• The Blockchain Supply Chain Market is expected to grow at a CAGR of 81.7% over the forecast period 2020 to 2025.
• Particularly in the fintech segment, blockchain investment is projected to reach USD 6.7 billion by 2023 at a compound annual growth rate of 75.2%.
• By 2023, Gartner projects companies using blockchain smart contracts will increase overall data quality by 50%, but reduce data availability by 30%, conversely creating positive data and analytics ROI.
• Blockchain technology is expected to grow rapidly in the coming years, with the global blockchain market projected to reach a value of $20 billion by 2024.
• In the next 10 years, blockchain is going to contribute 1.76 trillion dollars to the global Gross Domestic Development by 2030.
• By the year 2030, the business value that will be added due to blockchain technology is anticipated to be $3.1 trillion.
• Asia-Pacific Blockchain in IoT market is anticipated to grow rapidly during the projected period, and is anticipated to reach $1459.8 million by the end of 2026, at a growth rate of 94.8%.
• Blockchain spending will grow at five-year (2018-2023) CAGR of 55.3% for the Asia-Pacific region and 57.1% worldwide, with global spending reaching US$ 14.4 billion by 2023.
• Blockchain technologies will reach a tipping point in 2025 and be adopted at scale across the global economy, boosting GDP by nearly $2trn (£1.5trn) over the next decade.
• Blockchain is forecast to boost the global economy by $1.7 trillion by 2030, and, across all continents, Asia will see most economic benefit.
• Blockchain technologies could have the potential to boost the UK economy or GDP by £57 billion over the next decade.
• Blockchain technologies could boost the UK economy by £57 billion over the next decade and the global economy could see a $1.7 trillion boost.
• PwC economists expect blockchain to boost global GDP by US$ 1.76 trillion - which is 1.4% of global GDP - by 2030.
• PwC economists expect China and the United States to benefit the most from blockchain technology over the next decade.
• Blockchain is following suit, with 10% of global GDP expected to be stored on blockchain by 2027.

Last updated: 17 January 2021