Leading market research company IDC estimates an 80% growth of spending on blockchain technologies in 2019. The cumulative growth in the next five years will be over 60%.
IT and business services are at the center of implementation — banks and manufacturing at the forefront.
Blockchain has become a permanent feature of future developments both in the US, as well as Europe and China.
Blockchain & Crypto in Government
Blockchain & Crypto Applications
International Data Corporation (IDC) estimates that worldwide spending on blockchain technology will be $15.9 billion in 2023. It is a five-year compound annual growth rate (CAGR) of 60.2% between 2018 and 2023. Banks will account for 30%, and manufacturing will account for 20%. Most of the development efforts will be in information technology and business services. The US will spend almost $1.1 billion on blockchain in 2019, followed by Western Europe at $661 million, and China at $304 million. Nobody contest the fact that blockchain will be a permanent feature of the technology landscape. We still have to discover how far its scope will extend.
Alternative Cryptocurrencies & Markets
Bitcoin (BTC) has risen at the expense of many other high cap cryptocurrencies including Ethereum. Yesterday ETH lost another 7.5% going to $210. It is quite close to the psychological $edge of 200. Aside from EOS, Ethereum is the worst performing altcoin in the top twenty. It reached $350 in mid-June and lost 40% since then.