A new technology is changing the infrastructure of how transactions are being done, including in the financial markets and on the internet. This technology is called Blockchain. Why should you care? For one, it has been estimated that over the next decade (by 2025), the blockchain ecosystem will store 10% of the world’s GDP ($101 trillion), according to a report by the World Economic Forum (WEF).
Currently, the total market capitalization for all blockchain companies combined is $75 billion. The predictable areas blockchain technology is set to transform cover financial services, insurance, cybersecurity, elections, energy, logistics, identity, legal, governance, and healthcare, for example. If the estimates by the WEF turn out to be accurate, the expected growth for the blockchain ecosystem should be approximately 13,333% within the next eight years.
If you are still new to Blockchain, the following is a great video overview on Blockchain technology.
There are numerous major corporations that have invested in Blockchain technology. Leading the way is IBM. They created this short video to help people understand Blockchain.
