Bitcoin has been in vogue these days as investors watch the price riding a roller coaster within every minute, dragging with it the whole cryptocurrency market with the emergence of several smaller cap coins such as Dogecoin. As cryptocurrencies gain even further popularity, Blockchain technology - the foundation of cryptocurrencies, also becomes a more “mainstream” and “accessible” term. Yet, the potentials and power of blockchain go far beyond hipster cryptocurrencies. Scientists, economists, and politicians have long believed that Blockchain Technology is transforming the world across several aspects.
So it is important to understand exactly how far has Blockchain Technology come with its applications, what are the results, and what it might hold for our future. In this article, we lay out the top important and mind-blowing blockchain statistics and facts that might get you by total surprise and change your perspective on Blockchain - the technology of the century.
1. Outstanding Statistics
Let’s first take a look at some impressive numbers on the performance of blockchain technology applications in recent years.
- 24% of companies expect to invest between $5 million and $10 million in the blockchain during 2021.
- More than 20 countries have adopted or at least researched the concept of a national cryptocurrency.
- Worldwide spending on Blockchain Development Services and Solutions in 2021 has reached $6.6 billion USD
- There are a total of 72.995 million users of Blockchain wallets worldwide
2. Blockchain Facts of 2021
Besides blockchain statistics, now let’s come to some mind-blowing facts on the also mind-blowing Blockchain Technology.
- 60% of global blockchain’s market value is made up by the Finance Sector
Statista’s latest numbers and studies have cited the Financial sector as the largest contributor to the world blockchain market with 60%. The technology has spread to other sectors as well: manufacturing (17.6% of the market share), distribution and services (14.6%), public sector (4.2%), and infrastructure (3.1%). Nearly every industry has adopted blockchain tech to some extent.
- Blockchain can cut costs for Financial Services by millions of dollars
A Santander FinTech study has pointed out that distributed ledger technology could reduce financial services infrastructure costs between US$15 billion and $20 billion per annum by 2022, providing the possibility to decommission legacy systems and infrastructure and significantly reduce IT costs. Moreover, blockchain transaction costs are extremely low, for example, the transaction fee for transferring 849,999.99939168 Ether (which is equal to $1,129,879,499.19) is only $0.19, compared to an average of 1.3% - 1.5% transaction costs for credit cards.
- 86% of surveyed executive teams believed in the business potentials of Blockchain Technology
According to Deloitte’s 2020 Global Blockchain Survey, 86% of tech-savvy teams indicated their strong belief in the potentials for business applications of Blockchain Technology. More than half of respondents placed Blockchain Technology in the top 5 strategic priorities for their organization in 2020-2021. Especially, a staggering 88% of executives believed that blockchain is highly scalable and can be applied mainstream.
- Bitmain - the largest blockchain corporation worldwide
Bitmain was founded in 2013 and headquartered in Beijing. The company is specialized in producing integrated circuit chips for crypto mining and is currently the largest blockchain company by market valuation worldwide.
Bitmain was valued at $40-50 billion in early 2021. Other entries on the list of Top Blockchain Development Companies are the digital currency exchange Coinbase (valued at $8 billion), stock trading organization Robinhood ($5.6 billion), crypto network Ripple ($5 billion), EOS coin creator Block. One ($4 billion), cryptocurrency trade platform Circle ($2.9 billion), and major crypto exchange Binance (over $2 billion).
These are just a few of the many significant blockchain statistics and facts about blockchain technology and its applications, especially when the potential of blockchain has just started to unfold in recent years. SotaTek is a trusted blockchain consulting & development company offering full-cycle outsourcing services to integrate blockchain into applications. Be a pioneer to embrace blockchain technology to scale up your business by contacting our team of Blockchain experts now.