This is where the hype around blockchain really revolves around
This is where the hype around blockchain really revolves around
While the price of Bitcoin is not gaining a foothold in 2018, the technology of the world's largest crypto currency is developing further. The blockchain revolution is still young, but in the coming decades it will become an immense market. Blockchain can succeed where other projects fail.
Blockchain, together with Bitcoin and crypto coins, was the hype of 2017. But real blockchanging applications are still scarce. According to research firm Gartner, only 1% of 3,160 CIOs find it useful to integrate blockchain into their business model.
According to Gartner, it is therefore time that companies distinguish the hype from the real potential.
Sectors such as finance and logistics may not miss the trend, according to the research bureau. Here the software threatens to get dated when blockchain is not implemented. But blockchain also eliminates the intermediary, giving it a much broader potential.
"Blockchain is not a technological solution to a technological problem," says Brian Behlendorf of Hyperledger, "It is a technological solution to a political problem. You do not want companies like PayPal, eBay, Uber, Facebook to be at the center of their market. That gives them far too much power. "
Blockchain: market of $ 3,100 billion
Blockchain can cause a revolution in sectors where people still work with paper, use old technology or in sectors where there are major problems with trust.
"Whoever said 15 years ago that we would have a self-driving car for T + 2 transactions faster (financial transactions that are handled within 2 days) and for a shared health network, was declared insane. But today is the day ", says CEO of Digital Asset Holdings Blythe Masters.
It is these 'old-fashioned' sectors where blockchain can make a world of difference.
According to research firm Gartner, the blockchain industry already has a value of $ 5 billion by 2018. The coming years it will grow quietly but by 2030 Gartner expects an explosion to a market of $ 3,100 billion per year. That is greater than the UK economy.
Source: Barrons
Graph: Gartner