Blockchain market 101: A $7.74B tech & vendor potential

It is a strange world where lots and lots of people start getting genuinely excited about databases, but the epic promise of blockchain is that it can join the dots on all those data siloes. This could, if it all works out in practice, mean that your health records would be easily and securely accessible from anywhere, you could verify your interviewee’s Harvard degree, and governments could unequivocally be monitored against their development goals. The trouble is, like most visionary technology, there is some way to get there and at present the picture looks a little cloudy.

It is also impossible to get clear figures on the true potential size of the market because it is still such early days. Markets and Markets believes it be worth $2,312.5M by 2021, while Grand View Research puts a figure of $7.74B by 2024.

There are also several different ways to break down the wider blockchain picture - some of the most comprehensive work done here is Coindesk’s quarterly State of Blockchain. However, in short the technology is still new and in development – which means different platforms and frameworks are at play. There are also a number of industry players vying in the marketplace, which will impact how this technology is actually consumed in future.

Read an interview with the author of ‘Blockchain For Dummies’ and download the first chapter as a PDF - Blockchain For Dummies: What you really need to know

Blockchain: A technology question

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