The Future of Blockchain

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27 Feb 2024

In The Coming Years, Blockchain Tech May Begin To Influence Many Aspects of Everyday Life

In the coming years, blockchain technology may begin to pervade nearly every aspect of our lives– revolutionizing a variety of industries like banking and finance, government, education, agriculture, and entertainment. Blockchain tech may also significantly change the global economic balance of power in a variety of ways, with blockchain-based cryptocurrencies fighting for dominance with fiat currencies, blockchain tech securing voting systems, and DAOs revolutionizing the way corporations, non-profits, and other institutions are governed.

Size of blockchain tech market from 2022 to 2032.

Significant research backs up this idea, especially since the blockchain industry is expected to grow exponentially in the coming years. A 2022 report from Precedence Research estimated that the blockchain technology market will grow to more than $30 billion by 2025 and to more than $2.3 trillion by 2032. A similar report from Gartner estimated that “The business value-add of blockchain will grow to slightly more than $176 billion by 2025, and then it will exceed $3.1 trillion by 2030.”
It’s important to note that these market growth estimates focus on the growth of the blockchain tech market, excluding the market cap of cryptocurrency, which, as of mid-Q4 2023, sat at more than $1.32 trillion, down from nearly $3 trillion at the height of the crypto market boom in November 2021. When these two figures are combined, the true size of the blockchain industry becomes much, much larger.
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Market value of gold, 2010-2021, in trillions.

Specifically, a report from Allied Market Research estimates that the overall market cap of all cryptocurrencies will grow to nearly $5 trillion by 2030, so if we combined the projections of the non-crypto blockchain industry size and the potential future market cap of crypto, we could be looking at a combined market size of around $8 trillion. For reference, this is just slightly less than the combined current annual GDP of the world’s third and fourth highest GDP countries (Germany and Japan) and around two-thirds of the market cap of all the gold in the world, which is currently estimated to be around $11.5-13 trillion.
These numbers, while only estimates, make it clear that the blockchain and crypto sector is likely to continue to grow rapidly in the coming years and, with that growth, will have an increasingly influence on a variety of traditional industries. In this article, we’ll break down several major blockchain industry predictions and how they might impact both the global economy and ordinary people alike.