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Financial Services and the United States to Drive Blockchain Spending in 2019

Global blockchain spending is likely to surge by close to 89% from 2018 to an estimated $2.9 billion according to a new report published by International Data Corporation, a market-research firm based in the USA. The report, titled ‘Worldwide Semiannual Blockchain Spending’ analyses blockchain spending across various industries and geographies.

IDC predicts global blockchain spending to grow rapidly between 2018 and 2022, with a five-year CAGR of 76 percent. The report forecasts that total global spending in blockchain will climb to $12.4 billion in 2022.

Expectedly, the report claims that the financial services sector will lead the way in blockchain spending with an investment of more than $1.1 billion in aggregate across banking, insurance, and capital markets. The financial services industry has been the most enthusiastic and among the earliest adopters of blockchain technology with several live applicatio...

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