Besides being heavily associated with the booming cryptocurrency market, Blockchain has been a revolutionary technology that is playing a great role in digital transformation around the world. In a nutshell, blockchain is designed to offer transparency in online transactions and ownership.
Blockchain has had a significant impact on the way we live and work and it is transforming everything we know from digital identity to banking. It has also pioneered the development of other industries like the metaverse and Web3 which are now multi-billion dollar industries.
We have taken time to gather some of the blockchain statistics to help you understand the potential and impact of this amazing technology. To start with, here are some of the key blockchain statistics:
• The first blockchain to be developed was Bitcoin. It was conceptualized in 2008 and launched in 2009 by a person (s) known by the pseudonym Satoshi Nakamoto.
• According to Nividous, more than $270 billion has been transacted using blockchain.
• According to Forbes, the FBI owns 1.5% of the world’s total bitcoins (BTC).
• According to Edureka, about half of the world’s population is currently using blockchain technology in one way or another.
• According to the IDC, the United States of America is the biggest regional spender on matters of blockchain technology. It is estimated to spend about $2.6 billion on blockchain solutions.
Blockchain market statistics
1. The blockchain market is estimated to grow to $7.18 billion in 2022
According to Fortune Business Insight, the global blockchain market is projected to grow to $7.18 billion in 2022.
2. The blockchain market was valued at $6.6 billion in 2021
According to Statista, the blockchain market value had grown from $1.57 billion in 2018 to $6.6 billion by 2021.
3. Global blockchain market value to hit $163 billion by 2029
According to Fortune Business Insight, the value of the global blockchain market is projected to grow to $163.83 billion by 2029 at a compounded annual growth rate (CAGR) of 56.3% in the forecast period.
4. More than 80% of central banks around the world are anticipating introducing central bank digital currencies
According to Decrypt, 80% of central banks worldwide have announced plans to develop their cryptocurrencies known as central bank digital currencies (CBDCs). The United States of America, China, and some countries in Europe are already working on the necessary infrastructure and technology for their DBDC projects.
China is already testing its CBDC known as digital Yuan (eYuan).
5. The FBI owns 1.5% of the world’s bitcoins
According to Forbes, the FBI possess about 1.5% of all the bitcoins (BTC) coins in circulation around the world. The FBI has become involved with cryptocurrencies following the rampant cybercrimes that use cryptocurrencies.
The FBI bitcoins come from the cryptocurrency seizures it has made from crypto hacks as well as funding from the government to fight cybercrimes.
6. Blockchain to boost the world’s GDP by $1.76 trillion by 2030
According to PwC’s “Time for Trust” report on blockchain and evolving market, blockchain technology could boost the global GDP by about $1.76 trillion by 2030 which according to PwC’s economists accounts for 1.4% of the world’s GDP.
7. In the USA alone blockchain could add about $407 billion to the GDP
According to PwC’s “Time for Trust’ study, blockchain would unlock an additional $407 billion of the GDP of the USA by 2030.
The study also demonstrated that China’s GDP would be boosted by an additional $44o billion by 2030. In the UK, blockchain would unlock an additional $72 billion while in Germany it would unlock $95 billion by 2030.
8. 96% of financial services providers believe blockchain is in mainstream adoption
According to a study by Deloitte, into the marketplace adoption of blockchain in 2021, about 96% of financial service providers believe that blockchain technology has already entered the mainstream adoption phase.
93% of these service providers also believed that there is a compelling business case to use blockchain, cryptocurrencies, and digital assets in their respective businesses.
Blockchain trends statistics
9. Half of the world’s population is using blockchain
According to Edureka, blockchain statistics show that about 0.5% of the world’s population is currently using blockchain technology in one way or another.
10. The United States is the largest regional spender on blockchain solutions at $2.6 billion
According to the IDC, the US is estimated to spend about $2.6 billion on blockchain solutions. Western Europe comes in second at $1.6 billion while China comes in third at $777 million.
11. 68% of executives believe blockchain data security and privacy need improvement
According to Deloitte, 68% of executives believe that data privacy and security need to be improved to conform to today’s regulatory landscape. 57% think industry-specific regulatory issues need to be modified.
12. Over $270 billion in assets have been transacted through the blockchain
According to Gartner, assets worth more than $270 billion have been transacted on the various blockchain that has been launched. Notably, the assets include cryptocurrencies, digitized assets, as well as digital collections (non-fungible tokens).
13. There are more than 83 million registered blockchain wallets around the world
According to Statista, the number of blockchain wallets stood at about 83.4 million wallets as of July 2022 up from just 10.98 million wallets in Q4 2016.
According to Compare Camp, the majority of these wallets are mobile wallets.
Blockchain impact statistics
14. The financial sector accounts for more than 30% of the blockchain market value
According to Statista, while many markets are benefiting from blockchain technology, the financial sector accounted for more than 30% of the total blockchain market value by 2020.
15. 77% of financial service providers would prefer having blockchain-enabled services
According to Compare Camp, about 77% of financial service providers around the world have blockchain-enabled services as part of their processes or services.
16. The blockchain market in manufacturing has grown to about $85 million in 2022
According to Global Newswire, manufacturing appears to be one of the industries that are rapidly adopting blockchain technology. The blockchain market in manufacturing has increased from about $49.50 million in 2021 to about $85.64 billion in 2022.
17. The blockchain market in food and agriculture is estimated to reach $1.48 billion by 2026
According to BIS Research, blockchain solutions within the agricultural and food sector will hit $1.48 billion by 2026. Blockchain technology offers a transparent and tamper-proof infrastructure for inventory and food tracking.
18. The blockchain market in healthcare is projected to reach $1.1896 billion by 2028
According to a report by Vantage Market Research published in 2022, the global market size of blockchain in the health sector will reach about $1.1898 billion by 2028. It is estimated to grow at a compound annual growth rate (CADR) of 61.3%.
19. 45% of people think blockchain would secure the exchange of digital information
According to a survey conducted by Deloitte in 2021, 45% of FSI respondents thought blockchain is essential in securing the exchange of information within the digital landscape.
20. Blockchain is projected to generate over $3.1 trillion worth of business by 2030
According to Gartner adding blockchain technology to the business world could generate an additional $3.1 trillion by 2030.
21. 52% of FSI think blockchain is good for verifying customers
According to a survey conducted by Deloitte in 2021, about 52% of all FSI respondents think blockchain would be a great tool for verifying customer billing instructions and reducing fraudulent activities.
Another 51% think blockchain is good for signing agreements/contracts and verifying signatures.
22. The banking sector around the world would generate an additional $1 billion in revenue from blockchain
According to blockchain industry statistics, blockchain is being integrated into the financial sector, especially in banking, at a rapid pace. The banking sector around the world could generate up to $1 billion in revenue from blockchain-based cryptocurrencies.
23. The Blockchain IoT market is projected to grow by 40% by 2026
According to Mordor Intelligence, the blockchain internet of things (IoT) market, which is already a billion-dollar industry, is projected to expand by 40% between 2021 and 2026.
24. 60% of chief information officers (CIOs) would want to add blockchain to their businesses
According to a survey by MVP, about 60% of the interviewed CIOs had plans of integrating blockchain technology. This is a great improvement since in 2016, 2017, and 2018 half of the CIOs had no plans of using blockchain.
25. Blockchain is one of the top 5 priorities for 40% of health executives
According to blockchain healthcare statistics by Healthcare Weekly, 40% of healthcare executives believe blockchain can allow for interoperability and transfer of patients’ information from one health centre to another without compromising the security of the data.
Conclusion
Hopefully, above the blockchain statistics have given you an insight into the general adoption of blockchain technology. The statistics also give a glimpse into how blockchain is being integrated into various sectors including finance, healthcare, information technology, and agriculture.
The statistics also offer insight into blockchain technology is what to expect with blockchain in future.