Blockchain

• [New] Financial institutions acknowledge that Blockchain technology will save billions of dollars for banks and major financial institutions over the next decade.
• [New] Banks will derive ~ $1 billion of value using blockchain technologies by 2020.
• S&P Dow Jones announced this month that it will launch cryptocurrency indices in 2021, paving the way for cryptocurrencies to become more mainstream investments.
• The ECB President, Christine Lagarde announced the recent developments on a central bank digital currency (digital euro) and mentioned that the ECB will launch digital euro in the next two to four years.
• The global expenditure on Blockchain-based solutions in 2020 is expected to reach a value of around $4.3 billion USD.
• Gains from digital agriculture could add AUD $24.6 billion to Australia's GDP and create a A$ 100 billion agriculture industry.
• Although the most known applications of Blockchain are in the world of Finance and technology, Digital Marketing could be an area that will see an explosion of blockchain applications in the coming years.
• The International Data Corporation anticipate that spending on artificial intelligence will reach US$ 57 billion by 2021 and according to the World Economic Forum by 2027 some 10% of global GDP will be Blockchain-based.
• The Excise Department within Thailand's Ministry of Finance plans to implement blockchain technology to improve its revenue collection systems in the coming year.
• The utility of cryptocurrencies will gain a major boost next year when PayPal makes cryptocurrencies available as a funding source for purchases.
• More than half of executives surveyed plan to increase AI investments in the next three years, while 44% will increase robotics investments.
• 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.
• In terms of individual countries, blockchain could have the highest potential net benefit in China ($440 billion by 2030) and the USA ($407 billion by 2030).
• Total spending on integrating blockchain into healthcare is forecast to rise to $5.61bn by 2025.
• One in 10 central banks - representing approximately one-fifth of the world's population - expect to issue their own digital currencies within the next three years.
• The Blockchain Supply Chain Market is expected to grow at a CAGR of 81.7% over the forecast period 2020 to 2025.
• Global blockchain technology revenues will experience massive growth in the coming years - with market valuations for blockchain tech expected to climb to over $39 billion by 2025.
• 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.
• 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.

Last updated: 17 January 2021