Business Blockchain Spending - Size of market

Hi @Cryptojunkie.

My advice is to choose a track and complete the courses in that track. :slightly_smiling_face:

The programming tracks are very good, but they require some focus and dedication, so I would stick to taking 1 programming course at the time.

Good luck, my friend.

Ivo

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Solid advice. Looking forward to tying my brain in a knot;)
Thanks mate :pray:

I was having a bit of extra time on my hands and started to “explore” some of the other courses at the same time yes. However my time available for the Academy will be reducing in the near future so I will need to focus on One most likely

I would recommend only to “write checks that you can cash” basically meaning if you know you can handle something go for it, take risk but only so much that can be handled

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Yes I also see the adaptation of Blockchain in business gathering a very critical rate of adoption within the next 2-10 years! This market is huge and at this point in time it’s still relatively untapped according to the all the data I’ve that been exposed to! Exposure and awareness is just in it’s beginning stages and like you always point out it’s time to take a position! Businesses will have a need to adapt quickly or be left behind the disruption will have their customers going with the companies who fulfill the customers needs! I’m living this now by taking time investing in your courses I’m becoming more informed and also at the same time I’m investing time on how to start generating passive income in crypto currencies while studying! I will assist you in your business by helping others by posting my affiliate link to your academy wherever I can so they can be informed. Also I will be posting wallet links that I’m an affiliate to also to assist them to getting started in transferring their fiat into crypto and they become part of this rapidly growing financial community.
Thanks again Ivan and Team!

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Hello,

The data regarding the blockchain size market is a bit outdated (2018). Could you share most recent one? Is the 11.2 billions USD is still on track?

Do you have by any chances sources/researches that you can share and shows the demand of blockchain, breakdown by sectors?

Thank you!

Hi.
Thanks for sharing this with us, we will update it and share some resources. :+1:t2:

Ivo

Sure, many business are adopting the bc but I see an important problem: They are choosing the wrong blockchains as many are not decentralized. So maybe this fundamental first step is not decided by educated IT directors and their consultants.
Here we are to help! :slightly_smiling_face:

Hi,
What is the updated data, or rather where should we be looking for this data of how much spending is in the space currently.

Hi @ivan think that as at the time you recorded the video in 2018 the potential that is now seen via the DeFi space would not have been have been appropriately factored as it was basically in it’s infancy stage then so i think (no based n Hopium) that the estimate of 11.7B will have increase even when considering that DeFi may only capture a tiny fraction of Global Financial markets.

By the way it seems the link https://www.idc.com/getdoc.jsp?containerId=prUS44150518 in the course segment is no longer available.

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Hi.
Thanks for sharing this with us, we will update it and share some resources. :+1:t2:

Carlos Z.

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I can do with 1% of that :rofl:

according to an IDC article from a couple weeks ago:

According to the April update of the IDC Worldwide Blockchain Spending Guide Worldwide and Asia/Pacific* blockchain spend will decline in 2020 as compared to the pre-COVID-19 forecast scenario. This decline is led by marked reductions in IT spend and bleak economic growth in recent months due to the pandemic. Worldwide spending on blockchain solutions is forecast to reach nearly $4.3 billion in 2020 – a tempered 57.7% growth from the $2.7 billion spent in 2019. While IDC forecasts a drop in blockchain spend in every industry in 2020 due to COVID-19, the scope of these reductions will vary across industries.

in short:
2019 - 2.7B $

2020 - 4.3B $ prediction

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Awesome,
Thanks for looking into this.

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Just some dry data to support your thinking conceptually but also to show you that in 2018 you could not imagine this in your wild dreams the speed of development for this industry. Here it goes… "Worldwide spending on blockchain solutions is forecast to reach nearly $4.3 billion in 2020 – a tempered 57.7% growth from the $2.7 billion spent in 2019. While IDC forecasts a drop in blockchain spend in every industry in 2020 due to COVID-19, the scope of these reductions will vary across industries. IDC expects blockchain spending to grow at a tempered pace over the 2018-2023 period with a five-year compound annual growth rate (CAGR) of 55.3% for Asia/Pacific* and 57.1% for Worldwide – with worldwide spend reaching $14.4 billion by 2023."https://www.idc.com/getdoc.jsp?containerId=prAP46625520

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Great! Thanks for sharing this sir!

Carlos Z.

When Bitcoin decouples from currency, we know it will moon. However, when Alt coins decouple from bitcoin… there will be no stopping the blockchain space! It will become the most prominent asset class!

Indeed sir, but it could take some years more for BTC to decouple from fiat currencies, and Alts could even take more time, but off course that could be seen has a possible high probabilistic future scenario.

In the mean time, lets learn all that we can of this amazing process :nerd_face:

Carlos Z.

lol. Yes I’ve done the same

In the video Ivan said on year 2018 that in year 2021 businesses are spending on blockchain tech approx usd11.7B.

So, What is the situation Currently?

Is the study on track of being right?

I wonder if there’s a similar one made recently.
I wonder how early we are as of today. Definitely way less than when the study was published. :frowning:

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