Blockchain is big news. For better or for worse, it doesn’t seem like a day goes past without some form of blockchain/cryptocurrency news hitting the headlines.
But the applications of blockchain reach MUCH further than just cryptocurrencies. From travel and mobility to healthcare, practically every industry is now being touched by the potential of blockchain - and those that aren’t soon will.
It is undeniable that this promising technology is revolutionizing the tech space.
Need convincing? Check out the latest blockchain statistics below. Don’t worry, for those of your crazy about crypto we have included some cryptocurrency statistics as well!
Blockchain sounds great, but do people actually use it for anything?
Well, yes.
Although 2.8% might sound like a small number, with 7.9 billion people currently occupying the planet, that equates to a massive 221 million people who are using blockchain technology. This is hardly surprising when you see that around $6.6 billion is being spent on blockchain solutions in 2021.
As this blockchain technology gets rolled out further to other industries, this number is going to continue to grow, and quickly. In fact, according to the latest statistics spending on blockchain solutions is expected to increase to $19 billion by 2024.
Source: Tech.co
The growth of blockchain is most likely due to the high levels of security it offers as well as the way in which it drastically decreases transaction time. This can help businesses make massive saving both in time and in financial resources.
There is no hiding from it. Blockchain is most commonly known and used for cryptocurrencies such as Bitcoin and Etherium. Although most banks initially shunned cryptocurrencies, it is now reported that a massive 90% of banks in the US and Europe had started working on blockchain projects by 2018.
However, not all of these projects are necessarily cryptocurrency-related. The major benefit of blockchain in the financial space is the ability to easily and securely keeps records, meaning the technology can just as easily be applied to fiat currencies and other banking structures. Based on current figures it is predicted that this could lead to vast savings in the financial space including:
Travel, tourism, and transportation is another industry that is already benefiting from blockchain technology. This is primarily due to the speed at which transactions can be undertaken when a blockchain structure is used.
Blockchain allows these businesses to cut out the middleman through the use of smart contracts which are both secure and speedy, helping them to make bookings directly with customers.
One example of a business already leveraging this technology is Winding Tree. This platform is decentralizing travel distribution by helping suppliers get discovered by millions of travelers.
Big wins in revenue generation are likely to be found through the efficiencies gained when using blockchain technologies to help inefficient industries such as construction to reduce project overrun and failure - many of which are due to inaccurate estimates and lack of oversight and control.
However, there has also been a drop in the number of cryptocurrencies from the previously higher number of 6044 in 2020. This goes to show that the cryptocurrency is passing through the explosion phase and into maturity, weeding out some of the less promising cryptocurrency projects and focusing on those that bring the biggest benefits to the market.
Healthcare is another major industry that is set to benefit from blockchain technology. This is especially true for helping healthcare professionals to quickly access medical records as well as speeding up point-of-care patient management.
With a predicted $5.61 billion being invested into integrating blockchain into the healthcare system by 2025, it is clear that blockchain is set to play a major part in the industry in the years to come.
Due to the nature of blockchain, using it offers businesses a never seen level of security - allowing them to attach super-secure receipts to every purchase made. This is why blockchain is such an exciting prospect to executives in this industry.
With this in mind, it is hardly surprising that 42% of top-level executives in the consumer space plan on spending at least $5 million on blockchain technology in the near future. This will help to protect their businesses against both current and future threats.
Latest Blockchain Stats: Summary
In this article, we have explored some of the latest, biggest and most interesting blockchain stats. A few themes are very clear:
There are big opportunities for businesses that adopt blockchain.
Many businesses in many industries are already investing in blockchain technology.
Blockchain has many possibilities for fixing numerous business challenges especially around speed of transactions and security.
The cryptocurrency space is maturing.
Read next: Is Bitcoin Gaining Momentum When It Comes To Consumer and Business Adoption
But the applications of blockchain reach MUCH further than just cryptocurrencies. From travel and mobility to healthcare, practically every industry is now being touched by the potential of blockchain - and those that aren’t soon will.
It is undeniable that this promising technology is revolutionizing the tech space.
Need convincing? Check out the latest blockchain statistics below. Don’t worry, for those of your crazy about crypto we have included some cryptocurrency statistics as well!
“2.8 percent of the world’s population are already using blockchain”
Blockchain sounds great, but do people actually use it for anything? Well, yes.
Although 2.8% might sound like a small number, with 7.9 billion people currently occupying the planet, that equates to a massive 221 million people who are using blockchain technology. This is hardly surprising when you see that around $6.6 billion is being spent on blockchain solutions in 2021.
As this blockchain technology gets rolled out further to other industries, this number is going to continue to grow, and quickly. In fact, according to the latest statistics spending on blockchain solutions is expected to increase to $19 billion by 2024.
The growth of blockchain is most likely due to the high levels of security it offers as well as the way in which it drastically decreases transaction time. This can help businesses make massive saving both in time and in financial resources.
“90 percent of the American and European banks are leveraging blockchain technology”.
There is no hiding from it. Blockchain is most commonly known and used for cryptocurrencies such as Bitcoin and Etherium. Although most banks initially shunned cryptocurrencies, it is now reported that a massive 90% of banks in the US and Europe had started working on blockchain projects by 2018.
However, not all of these projects are necessarily cryptocurrency-related. The major benefit of blockchain in the financial space is the ability to easily and securely keeps records, meaning the technology can just as easily be applied to fiat currencies and other banking structures. Based on current figures it is predicted that this could lead to vast savings in the financial space including:
- $12 billion for banks
- $7 billion for insurers
- $4 billion for capital markets firms
“Blockchain has reduced ticket booking transaction costs by 20 percent”.
Travel, tourism, and transportation is another industry that is already benefiting from blockchain technology. This is primarily due to the speed at which transactions can be undertaken when a blockchain structure is used.
Blockchain allows these businesses to cut out the middleman through the use of smart contracts which are both secure and speedy, helping them to make bookings directly with customers.
One example of a business already leveraging this technology is Winding Tree. This platform is decentralizing travel distribution by helping suppliers get discovered by millions of travelers.
“Blockchain is predicted to generate $175 billion of business revenue in the United States by 2025.”
Speed and security is a recurring theme throughout this article. These are by far the biggest benefits to any business that adopts blockchain technology. In fact, increases in the speed of business processes are predicted to help generate a huge $175 billion of business revenue in the US by 2025.Big wins in revenue generation are likely to be found through the efficiencies gained when using blockchain technologies to help inefficient industries such as construction to reduce project overrun and failure - many of which are due to inaccurate estimates and lack of oversight and control.
“There are over 5.8K cryptocurrencies available worldwide (as of August 2021)”.
There are now a massive 5840 cryptocurrencies available across the globe. This figure is quite amazing when compared to the fact that just 66 were available in 2013. This shows that cryptocurrencies are widely being accepted as a new form of currency or a safe form of wealth storage, with many organizations seeking to benefit from this trend.However, there has also been a drop in the number of cryptocurrencies from the previously higher number of 6044 in 2020. This goes to show that the cryptocurrency is passing through the explosion phase and into maturity, weeding out some of the less promising cryptocurrency projects and focusing on those that bring the biggest benefits to the market.
“It is predicted that around $5.6 billion will be invested into integrating blockchain into the healthcare system by 2025”.
Healthcare is another major industry that is set to benefit from blockchain technology. This is especially true for helping healthcare professionals to quickly access medical records as well as speeding up point-of-care patient management.
With a predicted $5.61 billion being invested into integrating blockchain into the healthcare system by 2025, it is clear that blockchain is set to play a major part in the industry in the years to come.
“42 percent of the executives in the consumer goods space plan on spending at least $5 million on blockchain tech in the near future”.
Fraud is by far the biggest issue faced in the consumer good space.Due to the nature of blockchain, using it offers businesses a never seen level of security - allowing them to attach super-secure receipts to every purchase made. This is why blockchain is such an exciting prospect to executives in this industry.
With this in mind, it is hardly surprising that 42% of top-level executives in the consumer space plan on spending at least $5 million on blockchain technology in the near future. This will help to protect their businesses against both current and future threats.
Latest Blockchain Stats: Summary
In this article, we have explored some of the latest, biggest and most interesting blockchain stats. A few themes are very clear:
There are big opportunities for businesses that adopt blockchain.
Many businesses in many industries are already investing in blockchain technology.
Blockchain has many possibilities for fixing numerous business challenges especially around speed of transactions and security.
The cryptocurrency space is maturing.
Read next: Is Bitcoin Gaining Momentum When It Comes To Consumer and Business Adoption