Blockchain

The wholesale decentralization of just about every industry on the planet. From banking to smart contracts, everything can be done on the blockchain without the permission of a third party. A blockchain is a digitally distributed public ledger that displays all transactions on a network. Blockchain is most associated with cryptocurrencies. However, there are a number of other ways that a blockchain can be used. As an example, a blockchain can be used to track inventory, create smart contracts, or secure personal information without having to use a hard drive.

Important Blockchain Statistics

• Over 20 countries have adopted or researched creating a national cryptocurrency

• By 2024, the blockchain will account for $20 billion in annual revenue

• There are nearly 100 million blockchain wallets

• IBM is currently working on over 500 blockchain projects

• Healthcare related spending is expected to reach $5 billion on the blockchain by 2025