Business Blockchain Spending - Size of market

Yes, we are still earlier for business to adapt blockchain solutions.

Here you can read more about a more updated article:

https://www.forbes.com/sites/lukefitzpatrick/2020/05/24/spending-on-blockchain-solutions-could-surpass-16-billion-by-2023/?sh=6a8ff610720d

Carlos Z

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The forecast from 2018 seems to be pretty accurate even though spending on blockchain solutions is said to have taken little hit due to COVID-19 as well as many other industries:

Link to Statista.

Just had to quickly check that out :grinning:

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This type of lessons are the ones that need to be updated with current information.

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Cool! Thanks for sharing!

$6.6 Billion on 2020 (Yahoo Finnance)

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BC is ‘tailor-made’ for Charities to ensure/insure that the Intentions actually actualize! …
That the resources actually make it to the target destination and deliver the intended results :+1:

I just started the course today and I am really enjoying it. Wanted to share some research that I did today:

Business Blockchain Spending – Size of market

  • Global Spending on Blockchain Solutions Forecast to be Nearly $19 Billion in 2024, According to New IDC Spending Guide.
  • “This is an important time in the blockchain market as enterprises across markets and industries continue to increase their investment in the technology. The pandemic highlighted the need for more resilient, more transparent supply chains, healthcare delivery, financial services, and so much more, and enterprises around the world have been investing in blockchain to provide that resiliency and transparency,”
  • “What is very important right now is that we are seeing real interest and investment by corporations, financial institutions, and even governments in areas they previously viewed with some uncertainty such as cryptocurrencies, digital assets, central bank digital currencies, decentralized finance, and stablecoins. This investment will have major implications in a very short time on everything from retail to financial services to capital markets.”
  • Spending on blockchain solutions in the United States will be nearly $2.6 billion this year, making it the largest geographic market, followed by Western Europe ($1.6 billion) and China ($777 million). All nine regions covered in the Spending Guide will see exceptional spending growth over the forecast period led by China with five-year CAGR of 54.6% and Central and Eastern Europe (50.0% CAGR).

Uses Cases for Blockchain

  • While the effects of the pandemic had organizations diverting budget or pausing projects to focus on more essential endeavors, this was not the case with blockchain.
  • The leading use case for blockchain in 2021 and throughout the forecast is Cross-Border Payments & Settlements, which uses distributed ledger technology to track, trace, and manage payments and settlements.
  • The second largest blockchain use case is Lot Lineage/Provenance, which is used to verify the origin and authenticity of a product as it moves throughout the value chain.
  • COVID-19 made it clearer than ever that in order to have resilient business operations, changes in behavior, demand, and supply have forced companies to adopt a digital-led and blockchain-driven business model to survive lockdowns, supply disruptions, and future crises.
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The new study made by the IDC

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I think the right time is now to get into it. Glad to be here.

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It would be so great to find a team to form a company for implementation of some service (that I worked in in automative sector and small appliance sector) in shape of blockchain technology and to implement that kind of standard worldwide (to bad I alone don’t have so much knowledge). I think that without a team it is nearly impossible to achieve something like that and maybe here I can find my team mates :smiley: @ivan although it is now year 2022 this course I think so far is still relevant. And I think that now we know who invented the first time machine, because it seems like in year 2018 you have visited the 2022 year :smiley:

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19 Apr 2021

Global Spending on Blockchain Solutions Forecast to be Nearly $19 Billion in 2024, According to New IDC Spending Guide

https://www.idc.com/getdoc.jsp?containerId=prUS47617821

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