As one of the most significant innovations to come out of the cryptocurrency boom, blockchain technology completely changed the way companies across different industries operate, make transactions and manage their assets.
According to data gathered by BuyShares.co.nz, the global spending on blockchain solutions is expected to surge by 235 percent and reach $14.4 billion in 2023.
57.7% year-on-year growth, despite COVID-19
By allowing digital information to be distributed but not copied, the blockchain technology created the groundwork for the new type of internet. Although initially invented for the cryptocurrency Bitcoin, by improving online security and streamlining fundraising and payment options, the blockchain technology was adopted by many companies across different industries.
In 2017, the global spending on blockchain solutions amounted to $950 million, revealed Statista data and IDC 2020 Worldwide Semiannual Blockchain Spending
