According to Juniper Research, the volume of domestic money transfers via mobile phones will exceed 203 billion in 2024 — that’s up from 130 billion in 2019. Domestic person-to-person (P2P) payments will drive this growth, accounting for 80 percent of all domestic transfers in 2024.
“Prior to embarking on a blockchain project, 59% of respondents said they had no confidence that the project would deliver a positive return on investment – and only 38% of those who have implemented the technology developed a business case prior to investing.”
By 2021, 90 percent of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure and avoid obsolescence, according to the latest worldwide market study by Gartner.
A new global market study found that more than 14 billion B2B cross-border transactions will be processed by 2023; rising from 13.5 billion in 2019 — that’s a 7% increase. This will be driven by blockchain-based payment networks.
via Juniper Research
“Several enterprises in global supply chains have moved their digitalization focus outwards towards the business networks of which they are part. Supply-chain actors need to work digitally with others across national borders to optimize the flow of physical goods, as well as the complex flow of information and financial transactions.”
“Blockchain is often discussed as if it is one single technology. But it is really a combination of several distinct features – decentralization, distribution, cryptography, and automation – which are combined in different ways by different platforms.”
Mobile and online (digital) money transfer offerings will continue to transform the market. New technologies, such as blockchain, will further accelerate the trend.