A recent report from IDC states that China will contribute about 68% of all blockchain spending in Asia/Pacific the upcoming 5 years.
“The adoption rate of Blockchain technology has been growing at a steady pace. Use cases leveraging on Blockchain are maturing as well, filtering out the overhyped or solutions overselling the technology from the implementations where blockchain brings value to the ecosystems. The technology is here to stay, organizations need to assess the benefits that blockchain can bring to the business like the way it assesses other emerging technology. Identifying realistic areas of implementation where the technology can reduce cost and increase efficiency. With proper analysis, leveraging the adoption of blockchain, can assist organizations to enhance their digital transformation journey,” says Jeff Xie, Senior Market Analyst at IDC Asia/Pacific.
With China launching their Digital Currency Electronic Payment (DCEP) initiative they mean serious business and definitely do not want any other country beating them to it.
The race to be the first country that adopts blockchain on a country-wide scale has begun!
