Market intelligence company IDC
published the latest update to its Worldwide Semiannual Blockchain Spending Guide. The report found that for Asia/Pacific excluding Japan (APEJ) in 2018
trade finance & post trade/transaction settlements accounted for 16.1% or $82.1 million of enterprise blockchain spending, closely followed by cross border payments & settlements at 15.9% or $79 million.
The only other applications that accounted for more than 5% were regulatory compliance (9.5%), transaction agreements (9.3%) and lot lineage or provenance (6.9%).
Total 2018 APEJ spend amounted to $284.8 million and is expected to grow by 83.9% to $523.8 million this year. The projected figure for 2022 is $2.4 billion or compounded growth of 77.5%.
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