Blockchain Spending In USA To Grow To $41 Billion Till 2025
Expenditure on distributed ledger technologies in the United States will rise from $3.12 billion to $41 billion by 2025, according to a report from the Research and Markets analytical center.
Researchers predict that the increase of blockchain investments will be 44.5% of the compound annual growth rate. During 2018, investing in the field of blockchain in the United States rose by 110% and reached $1.6 billion.
The forecasts are based on the analysis of potential advantages and possible risks of DLT in over 75 fields covering 11 industry branches within the US.
In March 2019, the International Data Corporation (IDC) analytical center reported that the costs of decentralized technologies development will rapidly increase within 2018 and 2022. At the same time, the five-year average annual growth rate will be 76%. This will lead to the rise of DLT consumption to $12.4 billion in 2022.
Researchers claim that the US is going to be the leading country in terms of blockchain spending that will amount to $1.1 billion. Western Europe may be placed second with investments totaling $674 million. China closes the top three as its government is said to allocate $319 million.
US Deputy Secretary of State for Economic Growth, Energy and the Environment, Manisha Singh, said that the agency is currently conducting blockchain researches. According to him, DLT studying is extremely important considering the growing popularity of this technology both within the US economy and as a worldwide solution.
As previously reported, the mayor of Chicago, Rahm Emanuel, announced the imminent global adoption of cryptocurrency with regard to the problems of globalization and economic instability of various countries.