Blockchain-Based Revenue to Grow 50-Fold by 2030

According to data and analytics from GlobalData, revenue from blockchain-based platforms and services is expected to grow 50-fold over the next decade, going from USD 4 billion in 2020 to USD 199 billion in 2030. Although this seems like incredible growth (and it is), businesses are somewhat slow in their adoption of blockchain technology due to the fact that the technology is relatively new. As attention now turns from experiments and short-lived solutions that show off the technology, the real work in using the technology to address real-world problems begins. This, in turn, will lead to the technology being able to reach its full potential. As solutions are being developed however, blockchain still has a chance to go mainstream if there is a concerted focus on the implementation of blockchain-as-a-service applications that allow companies to interact with the technology and find their best uses for it without developing solutions from scratch.