iTWire Tuesday, 20 April 2021 09:27 Global spending on blockchain expected to rise sharply in 2021
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Global spending on blockchain solutions will rise to US$6.6 billion (A$8.5 billion) this year, an increase of more than 50% compared to the pandemic year, the technology analyst firm IDC says.
The company said there would be strong spending growth from 2020 to 2024. with a five-year compound annual growth rate of 48.0%.
The leading use case is forecast to be cross-border payments and settlements, lot lineage/provenance verifying the origin and authenticity of a product as it travels the value chain trade finance and post-trade/transaction settlements, asset-goods management and ID management.