Bitcoin, Crypto currency, Blockchain

How strong is the Blockchain-the market will grow within 5 years?

799d60db248a44a9d01755fd943c91d7 - How strong is the Blockchain-the market will grow within 5 years?

IDC published a semi-annual report, the enormous growth of the technology in the next 5 years will be shown, but the industry leader Mike Novogratz points out how small the industry is still.

The Global Report is expected to be a massive adaptation of the Blockchain

Every six months, the International Data Corporation (IDC) published a report on global expenditure for Blockchain-technology solutions. The “Worldwide Semiannual Blockchain Spending Guide” is not free, but is provided as a summary with some important Details in vain.

IDC uses data from the US, Canada, Japan, Western Europe, Central and Eastern Europe, the Asia-Pacific region, the Middle East and Africa as well as Latin America and China will add next year.

The most dramatic statistics, predictions for the year 2022, a 15-fold growth of total expenditure 0.7 billion in the past year, to 11.7 billion. It is expected that the financial sector is to control the expenditure, directly after the introduction of the regulation. The USA have spent already this year of around 193 million US dollars for cross-border payments and settlements.

WHO HOLDS IT BACK?

Mike Novogratz has extensive experience in the financial sector, from traditional Investment Banking to crypto-currency in the last few years. He took a place on the list of richest people in Forbes, after he had worked for some time for Goldman Sachs, and then the two organizations had founded the Fortress Investment Group and, more recently, Galaxy Digital, a Crypto Merchant Bank. In may, the Bank teamed up with Bloomberg to bring the Bloomberg Galaxy Crypto Index (BGCI) on the market.

Last year, he predicted that Bitcoin would reach by the end of 2017 of $ 10,000 USD, which means the increase of course to 20,000 USD. In recent months, the growth of Blockchain-related educational programs has experienced a similar growth. If the current Generation is not ready to accept the technology that will make the next Generation work force willing to use them.

Need for education

Novogratz is obviously on the side of the adaptation, but he believes that his Generation is on the same page. On the Beyond Blocks Conference, he noted that the crypto-currency industry, despite its growth is still small. He pointed to three key factors that delay the introduction of mass block / cryptocurrency for 5 to 6 years:

Increasing Education And Training Opportunities:

UK – “Cryptocurrency Investment and Disruption”, a certification program of the London School of Economics.

Australia – “Developing Blockchain Strategy” courses at an Australian University for developers

Malta – Blockchain Technology Degree at the University of Malta starting in October of this year.

USA – center for Blockchain-research at Stanford University, to block chains practical, legal, and social challenges and a curriculum to develop the implementation easier.

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