Blockchain technology stands to boost the global economy by $1.7 trillion in the next decade with Asia seeing the most economic benefit, according to a new report by consulting company PricewaterhouseCoopers (PwC).
- PwC economists forecast a tipping point in 2025 if blockchain technologies are adopted at scale across the world, and expect blockchain applications to boost global gross domestic product (GDP) by $1.76 trillion, (1.4% of global GDP) by 2030.ÃÂ ÃÂ
- According to the report, blockchain will make the biggest impact on AsiaÃ¢ÂÂs economy with China, India and Japan driving adoption in the region.
- China stands to gain the highest potential net benefit at $440 billion, with the U.S. following at $407 billion.ÃÂ
- Germany, Japan, U.K., India and France are each estimated to benefit by more than $50 billion in the same period.
- The report identified five key application areas of blockchain with potential to generate economic value: product tracking