Worldwide Blockchain Review 2020
IDC (“China Oceanwide” owned 56-years old research company based in Framingham, MA, which DLT industry’s reports have been often referred in this group) had issued several researches dubbed “IDC FutureScape: WorldWide Blockchain 2020 Predictions” covering major world’s regions, including, US, Europe, China / East Asia, Africa and Middle East.
Citing (IDC): “Blockchain is still widely discussed enthusiastically among both technology vendors and buyers, more so after the crash of the cryptocurrency market …” (Note: due to that originals of those reports are not available, we are citing only its abstracts published on IDC site or related by other sources.)
Basically, IDC sticks to its old projections of 77% yearly blockchain spendings increase across all world’s industries ($2.7 billion in 2019 — an increase of 80% compare to 2018).
Including, nearly $1.1 billion, which was invested in US blockchains, $661 million — in Western Europe and the $304 million — in China. MEA countries are projected to increase their DLT spending from $21 million (2019) up to $105 (2023), which will make MEA the fastest growing DLT region in the world.
Citing (IDC): “Looking at Europe, we forecast that by 2023, the top 5 industries with the highest CAGR (compound annual growth rate) will be: process manufacturing, professional services, retail, discrete manufacturing and banking.”
As to African continent report says, without providing (allegedly) any concrete spending amounts: “Economic instability and poor banking systems in Sub-Saharan Africa have paved the way for digital and mobile payments — alternative solutions embraced by the continent’s population.”
At the same time, in the Latin America: “They are exploring to use their current Economy Free Trade Zones to create a crypto-friendly hub to attract crypto enterprises, talent and innovation.”
Among DLT concrete usage cases on a governments’ level report names the following:
- “Israel expand to DNA storage, diamond registration, cybersecurity and international shipping … the Israel Securities Authority has begun using blockchain in its messaging system …”;
- “the EU launched the European Blockchain Partnership in April 2018, which operates at a political level across all member states of the European Economic Area … The European Blockchain Partnership is set to deploy a network of distributed blockchain nodes across Europe …”;
- “Chinese government’s 13th five-year plan for IT cited blockchain as a ‘key driver of economic development’”.
As usual, IDC reports avoid to discuss political, legal and business issues associated with DLT, including, some governments (f.e. all BRICS countries as well as Nicolas Maduro’s Venezuela) actively pushing for cryptocurrency and blockchain adoption in order to reduce the USD-dependence of their economies.
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