IDC FutureScape: Worldwide Blockchain, Crypto, NFT, and Web3 2023 Predictions

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
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