Blockchain Spending Set to Grow Through 2021

The cryptocurrency market increased by more than 3,000 percent in 2017 and is expected to only go up.


Blockchain spending is expected to soar in the next coming years. In a report released by IDC, the annual growth rate between 2016 and 2021 is 81.2 percent. After $945 million was spent on blockchain solutions in 2017, $2.1 billion is expected to be deployed for blockchain projects in 2018 and that number only increasing to $9.2 billion by 2021. IT and business services are projected to combine for 75 percent of all blockchain spending.

IBM has been at the forefront for blockchain development, appealing to a wide swath of sectors as it continues to make big brand name partnerships.

Blockchain still brings up concern, however. People are still questioning if blockchain technology has any real-world solutions. Major partnerships, like IBM and Maersk, haven’t defined any real-world tests, so there is no precedent that the technology actually works. 

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