IDC FutureScape: Worldwide Blockchain 2020 Predictions

IDC FutureScape: Worldwide Blockchain 2020 Predictions

This IDC study discusses the worldwide blockchain top 10 predictions for 2020."Blockchain has been attracting all types of attention in the past few years," said James Wester, research director, Worldwide Blockchain Strategies at IDC, and lead author of this document. "Not all of that attention has been positive or focused on the areas where blockchain has already been showing great promise. But the technologies that are bundled under the label blockchain — including distributed ledgers, digital assets, and even cryptocurrencies — represent a very disruptive trend that will have a significant impact on industries as varied as healthcare, financial services, supply chain, and more."

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 2024, 40% of Tier 1 Financial Institutions Will Use Blockchain Networks to Process Point-to-Point Cross-Border Payments, Bypassing SWIFT and the Correspondent or Central Banking Infrastructure
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 2: Lawsuits and Delays Will Slow eVoting Progress, But Blockchain-Enabled Electronic Voting Will Emerge as a Prime Solution, and Successful Pilots Will Lead to 12% of Jurisdictions Testing Systems by 2022
Associated Drivers
IT Impact
Guidance
Prediction 3: By 2021, Providers and Payers Will Coalesce Around a Credentialing Blockchain Standard, and 20% Will Use This Standard in a Common Service, Eschewing Their Own Private Processes and Competitive Impulses
Associated Drivers
IT Impact
Guidance
Prediction 4: By 2023, Enterprises Will Invest Nearly $11 Billion in Blockchain Services — for Example, Consulting, Implementation, Maintenance, Support — Spending over One-Third of That Investment on Managed Services
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2024, More than 75% of Regulated Companies Will Adopt Blockchain in Support of Explainable Artificial Intelligence
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2022, 10% of the World's Adult Population Will Register for a Blockchain-Based Self-Sovereign ID, Creating an Expanding Market of 485 Million People Who Seek to Own and Control Their Digital Identity
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 7: By 2023, 85% of Global Container Shipping Will Be Tracked by Blockchain, with Half of This Using Blockchain-Enabled Cross-Border Payments
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2022, 25% of Digital Rights Will Be Processed on Blockchains Managed by Distributors and Content Creators, Brokering Trust and Transparency to Prevent Free Consumption and Illegal P2P Sharing
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 9: By 2020, More than 80% of Organizations Will Use Blockchain as a Service as the First Priority for Blockchain Infrastructure When Implementing Blockchain Initiatives
Associated Drivers
IT Impact
Guidance
Prediction 10: By 2023, More than 12 Countries, Mostly Emerging Economies, Will Begin Issuing a Digital Currency Using Blockchain Technologies to Promote Economic Stability and Encourage Electronic Commerce
Associated Drivers
IT Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
The Age of Innovation: Driving the Future Enterprise
Description
Context
Accelerated Disruption: Navigating Business Challenges as Volatility Intensifies
Description
Context
Crisis of Digital Trust: Escalating Threats Mandate Strategic Responses
Description
Context
The Platform Economy: Competing at Hyperscale
Description
Context
Sense, Compute, Act: Maximizing Data Value
Description
Context
Geopolitical Risk: Societal and Economic Tensions Rise
Description
Context
Intelligence Everywhere: AI's Opportunity and Implications
Description
Context
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