Blockchain Adoption Rates....How Fast, and Where?

in #technology7 years ago

Technology adoption rates, i.e. how fast a new technology conquers a significant fraction of its target market, have been steadily increasing over the last century, for B2C products. The graph below makes it very clear... 

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How fast blockchain technologies will be adopted is an intriguing question. The difficulty is that blockchain potentially have a large number of use cases and target markets, ranging from B2B applications (inter-bank communications, logistics/supply chain management, ...) to B2C ones (financial services to the unbanked,...).  

McKinsey & Company, a leading management consulting firm, have recently published a report containing an extensive review of blockchain use cases and market predictions, based on their own research and a survey of senior executive in financial institutions. 

They say the following:

- Out of 80 real blockchain use cases, half of them come the financial services sector, and half of it (25%of the total) are related to the insurance industry:

 

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- Seven use cases could be really big...

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- Maturity and widespread adoption would happen around 2021:

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The above forecast looks very sensible and fact-based. However, I have the feeling that use cases in the B2C arena could emerge which could drive even faster adoption....faster than what we have seen happening with smartphones...

Time will tell. 

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Good information, thanks for sharing coz we must know about

This comment has received a 0.14 % upvote from @booster thanks to: @hamzaoui.

Nicely put together piece. One of the deciding factors will also be mainstream media, and how they portray the Blockchains and their coins.
Great write.
👍

I feel like blockchain may be a bit slower than smart phones due to the complexity involved with using it right now. It seems to be taking a longer time to turn into something consumer-friendly.

Yes I think its going to happen much faster unless there are serious efforts to slow it down.

Nice post about Technology evolution with percentage or share of contribution

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