China - the country that recently jumped on the blockchain ship - will spend more than $ 2 billion on this technology by 2023. Global mar...
China - the country that recently jumped on the blockchain ship - will spend more than $ 2 billion on this technology by 2023.
Global market watch company IDC recently released a report showing that blockchain-based businesses in China will increase massively in the next few years.
The country plans to increase its annual spending on blockchain technology to more than $ 2 billion by 2023.
According to estimates from this report, this means that the total growth rate will be over 65% per year.
In 2019, the country primarily targets the banking sector for its blockchain technology efforts. However, with the increase of use in other areas such as retail, manufacturing and professional services. China is ready to change and allocate financing for those areas.
According to a study at IDC, this official recognition will further enhance the application of blockchain.
Of course, this news doesn't come as much of a surprise when considering the fact that China joined the blockchain after President Xi Jinping announced his country would capture and lead the way. this technology.
However, China is not the only country interested in the cryptocurrency industry. Elsewhere in the world, things are also happening, with Tunisia becoming the first nation to issue a central bank digital currency. In addition, Singapore has been adding blockchain projects to its Sandbox Program and Malta - the blockchain island - is likely to thrive in the coming months.
Interestingly, many powers in the Americas and Europe are struggling to implement appropriate regulatory policies for a fledgling industry.
Mr. Nerd
