IDC has
published its semi-annual blockchain spending guide. It’s forecasting spending on blockchain solutions to reach $15.9 billion by 2023. For this year it expects spending to be $2.7 billion, up from $1.5 billion in 2018. However, the 2019 forecast is slightly down on six months ago when it put the figure at $2.9 billion.
“Behind the sometimes heated public discussions and debates over blockchain, enterprise adoption of the technology has quietly reached a tipping point across multiple use cases,” said James Wester, IDC’s research director, Worldwide Blockchain Strategies. He highlighted adoption in finance, identity and trade.
Over the period from 2018 to 2023, the banking sector is expected to account for 30% of the spend. IDC identified international payments and trade finance/post-trade payments as the two most significant use cases for banking.
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