Where are the blockchain revenues? In the transformation projects...says Global Data.
GlobalData contradicts the many third-party market forecasts for blockchain technology who predict astonishing levels of revenue and growth.
"While we do see strong growth in spending on blockchain technology over the next seven years, GD forecasts that spend on blockchain technology itself will not reach $1 billion by 2025," says Charlotte Dunlap, Senior Analyst for Application Platforms.
"Growth in services revenues directly attributable to the implementation of blockchain will see even higher rates of growth, albeit from a lower starting point. The revenues aren’t in blockchain; they’re in the surrounding transformation projects."
According to GlobalData, while the buzz around blockchain intensifies, platform vendors are playing out mindshare grabs through an upswing in strategy and ecosystem updates. "Cloud platform providers are being pressed to define the early stages and use cases of this emerging market, which promises to modernize decades-old financial and supply chain systems into digital ledgers."
About blockchain, these days you hear less charges of ‘hype’ and more practical discussions about how technology providers and systems integrators might build points of interoperability between disparate blockchain implementations and cloud platforms.
GlobalData confirms the industry is moving beyond the education and proof-of-concept (PoC) stage and into a phase which aims to demonstrate how blockchain performs in production. This requires concrete steps towards interoperability among partners and various blockchain implementations. Read more...