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.
Blockchain spending set for boom
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Blockchain Spending to Increase 48% Through 2024
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Расходы компаний на блокчейн в 2021 году вырастут на 50% В фокусе Новости ИТ-бизнеса DailyComm ru
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BankInfoSecurity
May 5, 2021
Compliance
gsuparna) • April 6, 2021 James Wester, research director, worldwide blockchain strategies, at IDC
Crypto banks that handle crypto assets need to develop new ways to track suspicious activities, such as money laundering, says James Wester, research director, worldwide blockchain strategies, at IDC, a technology research and analysis provider. “The current system of ‘know your customer’ or KYC is not as rigorous in digital banks, Wester says. AML, risk and compliance still haven’t been done particularly well, since these banks are relatively new. So the main challenge for these banks is to learn a whole new way of watching for suspicious transactions and then tying it back to the right regulator.