Demand for blockchain solutions are accelerating across the globe. Given the maturity of the technology and the need for specialized skills and experience, the majority of blockchain spending in the near-term will be on business and technology services.
Distributed ledger technologies, or blockchain, is gaining momentum across the globe. What’s the appeal to apply the new eCommerce related benefits? There’s no proprietary owner or administrator. As a result, interest in open blockchain technologies — such as Hyperledger — are attracting many new ecosystem participants.
Savvy chief executive officers, and their board of directors, understand the potential for business model disruption by non-traditional startup companies. Moreover, they’re aware blockchain technology offers a new paradigm for commercial transactions that can impact established markets, incumbent businesses and partner ecosystems.
New financial services, underpinned by emerging technologies, have the potential to upend traditional banking. Nearly three-quarters of U.S. internet users ages 18 to 34 polled in August 2017 were willing to buy a financial product from a tech company.
The industry analyst expects blockchain investment to grow over the 2016-2021 forecast period with a five-year compound annual growth rate (CAGR) of 81.2 percent — with total spending to reach $9.2 billion in 2021.
In the enterprise sector, where smart contracts will dictate terms and cloud-tasking using multiple providers is the norm, there will be a need for transparency and an immutable system of record.
The new study from Juniper Research found that roboadvisor platform revenues will reach $25 billion by 2022 — that’s up from an estimated $1.7 billion in 2017, as the automation of wealth management revolutionizes the way individuals invest.