IDC FutureScape: Worldwide Blockchain, Crypto, NFT, and Web3 2023 Predictions
This IDC study provides 10 predictions for blockchain, crypto, NFT, and Web3."The key takeaway is to ensure that you, and your business, are prepared for the effects of these predictions, as well as for any other changes resulting in decentralized technology, which may impact your business; as we've seen: DLT/blockchain can seem to warp time and changes that may appear to be far-off on the horizon can suddenly accelerate unexpectedly, catching unwary executives off guard," says Phillip Silitschanu, research director, IDC's Worldwide Blockchain, Cryptocurrency, NFTs, and Web3 Strategies.
Please Note: Extended description available upon request.
- IDC FutureScape Figure
- Executive Summary
- IDC FutureScape Predictions
- Summary of External Drivers
- Predictions: Impact on Technology Buyers
- Prediction 1: By 2027, 50% of New Securities Issued Globally Will Be Issued as NFTs (or Blockchain-Based Tokens), as a Technology Channel for Private and Public Equities, Debt, and Derivatives
- Associated Drivers
- IT Impact
- Guidance
- Prediction 2: By 2028, Digital Trade Finance Transactions Will Make Up 30% of Total Trade Finance, If Trade Ecosystems Become Interoperable, Standardized, Technology Agnostic, and Easily Accessible to Customers
- Associated Drivers
- IT Impact
- Guidance
- Prediction 3: By 2026, the Global Crypto Lending Market Will Reach $5 Trillion as Cryptocurrencies Become More Widely Adopted as a Common Platform for Lenders and Borrowers
- Associated Drivers
- IT Impact
- Guidance
- Prediction 4: By 2025, One in Two Financial Intermediaries Will Have Adopted Distributed Ledger Technology to Support Settlement and Clearing Functions
- Associated Drivers
- IT Impact
- Guidance
- Prediction 5: By the End of 2025, Powered by Blockchain, Reinsurers Will Eliminate Reconciliation Pain Points, Boosting Transparency and Contract Certainty, Leading the Industry to Save Up to $10 Billion in Efficiency
- Associated Drivers
- IT Impact
- Business Impact
- Guidance
- Prediction 6: By 2026, 80% of International Banks Will Incorporate Crypto Assets into Their Risk Management Decision Making and Systems
- Associated Drivers
- IT Impact
- Guidance
- Prediction 7: By 2026, 25% of Countries Would Have Launched a Central Bank Digital Currency
- Associated Drivers
- IT Impact
- Guidance
- Prediction 8: By 2026, One in Three G2000 Companies Will Commit Resources for Training Employees Related to Web3, Blockchain, and Metaverse
- Associated Drivers
- IT Impact
- Guidance
- Prediction 9: By 2028, the Usage of CBDCs in the Global Financial System Will Account for 10% of International Trade by Value and Will Reduce Trade Costs by 40%
- Associated Drivers
- IT Impact
- Guidance
- Prediction 10: By 2027, 20% of Global Financial Products in Use by Consumers Will Have at Least One Element of DeFi in Their Architecture
- Associated Drivers
- IT Impact
- Guidance
- Advice for Technology Buyers
- External Drivers: Detail
- Storms of Disruption — Accelerating, Interconnected Uncertainty
- Cybersecurity and Risk — Scaling and Evolving Threat Environment
- Economic Instability — Flurry, Snowball, or Avalanche?
- Global Supply Shock — Refocusing on Multisource and Resilience
- Digital Business — Stepping Stone to the Future Enterprise
- Ecosystem-Based Innovation — Driving Enterprise Value
- Embracing the Metaverse — New Levels of Immersion
- Learn More
- Related Research
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