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The decade of blockchain is here

Time to shine

A glance back... The global COVID-19 pandemic has offered a new lens through which individuals, businesses and governments view the world. Now, in our new reality, we have an interesting opportunity to look back at how far technology has brought us and its potential to bring us further still.

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Just as we had begun to settle into 2020, the world changed dramatically as the COVID-19 pandemic unfolded. In spite of this uncertainty in which we now find ourselves, 2020 started as a promising year for blockchain and there remains a number of things that we know to be true – we know that the market is maturing and that stakeholders feel more confident about blockchain technology and its potential to aid their business. We know that no matter why businesses choose to adopt blockchain in the coming months, solutions will struggle to succeed without a clear plan for governance.

We know, and have seen in the past number of months, both in our personal and professional lives, that the world is becoming increasingly digital - it’s likely that digital assets are now closer than ever to mainstream adoption.

Moving forward in 2020

Now eleven years on from the mining of the genesis block on the bitcoin network, the popularity of blockchain technology has seen a historic rise and a significant fall. 2020 brings with it an opportunity for the technology to move further away from experimental PoCs and pursue more significant investment for real business-ready solutions should the economic environment allow.

This is the beginning of the decade of blockchain, and I think in 2020, we’ll start to see the global recognition of crypto assets in the financial services industry.

                                Antonio Senatore, Deloitte EMEA Blockchain Lead

 

The top five trends explored in the report are:

  • The hype is over
  • Evolving platforms
  • Adoption rates across industries
  • Governance is critical
  • The rise of tokens

Read the full report as part of FinSight magazine.

Explore ‘The decade of blockchain is here’ report as part of FinSight magazine.
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