Crazy Facts about Blockchain

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Let’s go over some numbers so you can grasp how much blockchain technology is of great value. These facts will help you to understand this new technology:

1. Bitcoin [1] pioneered blockchain technology and today, it has more than 21 million accounts [2] and is under enormous growth. In 2017, the number of users almost doubled.

2. The creator behind Bitcoin is anonymously known to be a person or group of people named Satoshi Nakamoto. There are many who worked and communicated with him via email,the entity’s real identity is unknown.

3. Blockchains can be public like the internet or private like the intranet.

4. Currently, blockchain is analogous to where the Internet was 20 years ago [3]. Pause and think about the growth that has happened to the Internet in the past 20 years.

5. Today, approximately 0.5% of the world’s population use blockchain and around 50% use the Internet.

6. Public Blockchains are 100% transparent since anyone with access to a blockchain can see the entire chain and history.

7. All participants within a network observe all changes to the shared ledger, think of it as a Google Document. The ledger constantly gets updated and every participant has their own immutable copy of it.

8. 91% of banks [4] are investing in blockchain solutions by 2018.

9. 14% of financial market [4] institutions plan to go into blockchain production in 2017.

10. The global blockchain market is expected to be worth $20 billion [5] by 2024.

11. In the last five years, VCs invested more than $1 billion into blockchain companies [6].

12. Tech giants like IBM [7] and Microsoft [8] invested a lot in the blockchain technology. IBM invested $200 million and 1,000 employees to blockchain projects.

13. A blockchain is actually the most vulnerable to a breach when it first comes online [9].

14. 9 out of 10 agree that blockchain will disrupt the banking and financial [10] industry.

15. It is estimated that banks could save $8–12 billion annually if they use blockchain technology.

16. One third of C level executives [11] are considering adopting or are currently using the blockchain technology.

17. Current market price of a bitcoin is $14,739.47 [12]

18. Current trade value of a bitcoin is $3,029,339,222.92 [12]

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BTC Wallet — 14i7M8Mh9ZCzgEYsdW6VRwM2GMtjZcQ5eC
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References

1. https://bitcoin.org/en/
2. https://blockchain.info/en/charts/my-wallet-n-users?timespan=all
3. https://www.reddit.com/r/ICONOMI/comments/61hmv4/10_blockchain_facts_that_every_investor_should/
4. https://www.ibm.com/blockchain/financial-services/
5. https://expandedramblings.com/index.php/blockchain-statistics/
6. https://hbr.org/ideacast/2017/06/blockchain-what-you-need-to-know
7. http://fortune.com/2016/04/29/ibm-blockchain-cloud-business-build/
8. https://cointelegraph.com/news/microsoft-joins-blockchain-focused-chamber-of-digital-commerce
9. https://www.coinsilium.com/education/10-facts-blockchain/
10. https://apiumhub.com/tech-blog-barcelona/blockchain-technology/
11. https://securityintelligence.com/news/ibm-study-blockchain-adoption-on-the-rise/
12. https://blockchain.info/stats