The Manifestations of Blockchain Technology In The Future

2 months ago

The Manifestations of Blockchain Technology In The Future

Blockchain, by definition, is nothing more than an immutable, encrypted and decentralized ledger which offers the highest grade of transparency and security. Blockchain technology has the potential to automate and unleash the power of autonomy in every centralized process and activity. This decentralization and automation would mean that the relevance of intermediaries and authorities would be rendered obsolete, helping in the streamlining of all businesses and government activities.

The Numbers:
  • The potential that the blockchain technology holds is quite evident in the numbers and graphs that have been showing a positive trend.
  • The blockchain space is expected to grow by about 43% in 2020.
  • Information from LinkedIn reveals that blockchain-related jobs grew up by 300% from 2017 to 2018.
  • The global spending on blockchain in 2018 alone amounted to $2.1 billion.
  • The number of startups that work on or adopt blockchain for their everyday technology has been steadily growing and have a combined valuation of over $4.4 billion.

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