PwC Report: Blockchain Can Boost Global GDP $1.76 Trillion by 2030

2020-10-14 19:00

According to a new report from PricewaterhouseCoopers (PwC), blockchain technology could boost the global economy by $1.7 trillion over the next decade.

The report, titled Time for trust: The trillion-dollar reason to rethink blockchain), is PwC’s latest bullish blockchain projection. It was intended to assess how the technology is currently being used and explore its potential future impact on the global economy.

The report laid out five key application areas for the technology that underlies cryptocurrency and examined the potential to generate economic value using economic analysis and industry research.

The five use cases in question are product tracking ($962 billion), financial services ($433 billion), identity security ($224 billion), contracts and dispute resolution ($73 billion), customer engagement, and reward programs ($54 billion).

Source: PwC

According to PwC experts, there will be a tipping point in 2025, where blockchain technologies should experience greater adoption across the globe. If this turns out to be accurate, the report notes that blockchain will make the most significant impact in Asia, with China, India, and Japan driving the region.

Among potential beneficiaries, China stood out, boasting the highest potential net benefit at $440 billion. Next was the U.S. at $407 billion, followed by Germany, Japan, the U.K., and India, around $50 billion each for the same period.

The report also presented blockchain as a potential remedy for companies battered by the economic fallout of the COVID-19 pandemic. As Steve Davies, Global Leader, Blockchain, and Partner at PwC UK put it,

“as organizations grapple with the impact of the pandemic, many disruptive trends have been accelerated. The analysis [in the report] shows the potential for blockchain to support organizations in how they rebuild and reconfigure their operations.”

For the most part, the report spoke in glowing terms about blockchain’s economic potential, but it also warned that its energy overheads must be managed if its promise is to be realized. Read the full report here.

The post PwC Report: Blockchain Can Boost Global GDP $1.76 Trillion by 2030 appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.1177 (-100%)

blockchain report pwc trillion boost global trust

blockchain report → Результатов: 126


Blockchain in Payments Report 2020: From Adoption To Growth

For the third straight year, Ripple is excited to share its annual Blockchain in Payments Report—a comprehensive look into the fintech industry and blockchain’s increasing role in payments. This year’s report uncovered that not only is growth indeed possible for blockchain and digital assets initiatives, but that familiarity and positive sentiment continue to rise as … Continued The post Blockchain in Payments Report 2020: From Adoption To Growth appeared first on Ripple.

2020-10-16 21:06


Фото:

Moody’s Report: Blockchain Disruption of Finance Markets Poses Systemic Risk

Mainstream financial institutions are increasingly adopting blockchain technology within their organization, according to a recent report from Moody’s. The Credit Ratings Agency, however, believes that the onboarding of decentralized technology protocols by these institutions could have profound ramifications for the global finance industry.

2019-4-30 11:00


Фото:

Huobi Big Data Report: Blockchain Voting for U.S. Military, Switzerland Launches World’s First Crypto ETP

Huobi published its report for the week running from Nov. 11th to Nov. 18th and it is marked by a decrease in digital asset prices. The report also focused on several other issues including the industrial application of blockchain technology, the use of cryptocurrencies by risky personalities, the possibility of paying taxes using cryptocurrencies, and […] Huobi Big Data Report: Blockchain Voting for U.

2018-11-26 12:59


Austrian Research Center International Economics (FIW) Eyes Blockchain for Foreign Trade Benefits

Report: Blockchain Technology Could Benefit Foreign Trade, Reducing any Uncertainty A report prepared by Bernhard Dachs from the Australian Institute of Technology was examined by the Austrian Research Center International Economics, looking at the possible effects of blockchain technology as a form of digitization and its potential benefits in the export economy. The report, prepared […]

2018-10-1 01:54


Фото:

UK Poised to Lead Cryto and Blockchain Economies, New Report Claims

A new report claims that the United Kingdom is poised to become a leader in the blockchain technology and cryptocurrency economies.  ‘The huge impact it undoubtedly will have in Britain and globally’ The conclusion comes from an analysis conducted by the Big Innovation Centre, DAG Global, and Deep Knowledge Analytics — as well as the all-party parliamentary group on blockchain — which has reportedly found that Britain possesses all of the essential resources needed to Read More The post UK Poised to Lead Cryto and Blockchain Economies, New Report Claims appeared first on Bitcoinist.com.

2018-7-16 18:00


Фото:

EU Regulator: legal uncertainty still faced by DLT in trade finance

An EU banking regulator has published a new report exploring the benefits and risks associated with the use of distributed ledger technology (DLT) in finance. In a report published on Tuesday that discusses the rising trend of financial technology, the European Banking Authority (EBA) highlighted two banking-related use cases of blockchain: cross-border trade finance and

2018-7-4 19:43


Used Blockchain to Rebuild Societal Trust and Saved 8 Billion, Report tell UK Governor

UK housing minister Eddie Hughes released a report into blockchain July 4, calling on the government to “show leadership” by making the technology and its benefits a priority. The report, ‘Unlocking Blockchain,’ makes several key proposals, using state projects currently underway in Estonia as the standard authorities should follow at home. “The state should focus

2018-7-4 18:26


EU Research: Cryptocurrencies Are Not a Major Threat to Sovereign Currencies

The European Parliament’s Committee on Economic and Monetary Affairs received a Monetary Dialogue titled “Virtual Currencies and Central Banks Monetary Policy: Challenges ahead” recently. The EU Report was confident that cryptocurrencies are “unlikely to challenge the dominant position of sovereign currencies and central banks.

2018-7-2 20:59