Data analytics firm reports "business value" of blockchain to reach $2T by 2030

posted 15 days ago
IHS Market, a fintech data analytics firm, in July reported a forecast of blockchain technology leading to a "business activity value" of $2 trillion by 2030. The report includes all value that blockchain adds as an entire vertical (not specific coin market caps). Though the report delved into granular parts of blockchain value, including “…primary research interviews with strategic blockchain specialists,” $2 trillion seems to be a conservative number as the year 2030 is a long way off, also during the 2017 bull run, the market activity came close to reaching $1 trillion.

Additionally, applications for blockchain are growing. This includes the ongoing patent frenzy and partnerships with businesses across nearly all sectors of business. The increasing volume of patents is an indicator of large adoption in enterprise businesses.

According to the report, key sectors driving blockchain business value include:

Banks and financial institutions
Supply chain and logistics suppliers
Advertising and media companies
Government and public-sector institutions
Power and energy companies
Retail and e-commerce
Regulators
Software specialists and developers
Telecom operators and MNOs
Cryptocurrency experts

Interesting patents continue to present unique applications for the technology. The vertical may look very different in 2030 after the industry evolves and matures. This would translate into more jobs and job types that we cannot forecast in 2018.
Tags: bitcoin, blockchain, news