Cisco Says Blockchain will be $10 Billion Market by 2021

And 10% of World GDP Stored On-Chain by 2027

Michael K. Spencer
Mar 25 · 6 min read
  • Security
  • Efficiency of transactions

The 2020s are an Era of Blockchain Adoption

Cisco suggested that blockchain has the potential to hold as much as 10 percent of the world’s GDP. This means that several trillion dollars worth of value could be stored on both decentralized and permissioned blockchains by 2027.

From accelerated internet-of-things to blockchain, to so many other accelerating technologies it’s a very exciting time for the future of technology and digital assets too. Distributed ledger technology doesn’t face the skepticism it once did, and private permissioned blockchains and their momentum seem to be outpacing public blockchains and decentralized solutions by a wide margin.

“Blockchain-based technologies can build a foundation for trust in the enterprise through the digitization of business processes, tokenization of assets, and codification of complex contracts,” Cisco’s report read.

Blockchain Adoption will Continue

The future perspective Cisco’s report gives is astounding. According to Cisco and data from IDC, the blockchain industry is poised to grow bigger and bigger as it lays the foundation for the era of a programmable economy that’s expected to deliver efficiencies and new business value in excess of $3 trillion by 2030. That’s not exactly the token economy, but it’s certainly a more vibrant world of digital transformation.

  • Internet of Things
  • Smart Cities

“Blockchain-based technologies can build a foundation for trust in the enterprise through the digitization of business processes, tokenization of assets, and codification of complex contracts. These technologies can enable business ecosystems, consisting of both internal and external partners, to securely interact and transact without human intervention and dramatically simplify operations for large enterprises.”

Cisco is not alone in believing distributed ledger technologies can enable business ecosystems, consisting of both internal and external partners, to securely interact and transact without human intervention and dramatically simplify operations for large enterprises. IBM, Amazon and Alibaba too are heavily implicated. Ethereum could fail and that would be okay, other projects would live on. Blockchain tech might have to refine itself for true decentralization to take place decades from now.

Cisco report, March, 2019

Blockchain Will Bring New Business Value, Automate Trust, and Improve Security

Such programmable commerce would open up more than $3 trillion in new business value, Cisco’s research found. Here you can essentially see how IoT, AI and blockchain will team up. This trinity accelerates automation and a society run by machine intelligence.

Blockchain Positive

Blockchain for social good is here.

Michael K. Spencer

Written by

Blockchain Mark Consultant, tech Futurist, prolific writer. LinkedIn: michaelkspencer

Blockchain Positive

Blockchain for social good is here.