Industry leaders: sectors that will benefit the most from blockchain technology

Economists expect that a wide range of industries will benefit from blockchain technology. Most of its value will be realized behind the scenes. We expect that blockchain will be used by 10% to 15% of the world’s infrastructure within a decade.

It seems that the general government, education and health sectors will benefit the most. Economists expect these sectors to get extra $574 bln by 2030 from the efficiency that blockchain will bring to the sector of identity and credentials.

At the same time, there will be more benefits for business services, communications, and the media. Wholesalers, retailers, manufacturers, and construction developers will also benefit from the use of blockchain for engaging consumers and meeting demand for the origin and traceability of goods.

Blockchain is a team sport. It works best when companies team up with their competitors in the industry and lay the groundwork for blockchain: processes, data sharing, and required automation via smart contracts. Once they realize the value, blockchain becomes an integral part of business technology.