Global blockchain spend to hit $9.7bn

Dubai / Emirates Business

Blockchain adoption continues to grow across industries world-wide with total spending on blockchain solutions set to grow to $9.7 billion in 2021 according to International Data Corporation (IDC), leading provider of market intelligence, advisory services, and events for the information technology, tele-communications, and consumer technology markets.
Startups in the nascent blockchain industry are driving this growth and new innovations have attracted high-growth capital with investments reaching $3 billion at the end of 2017.
The Future Blockchain Summit announced that the event will host the Global Blockchain Startups Marketplace at its inaugural edition from May 2-3 at Dubai World Trade Centre. The event, hosted by the Smart Dubai Office and organised by Dubai World Trade Centre, is slated to be the world’s most influential and creative blockchain festival. Future Blockchain Summit will see ground-breaking local and international startups seeking to showcase their solutions, attract investments and disrupt industries.
HE Dr Aisha bint Butti bin Bishr, Director General, Smart Dubai Office said, “Blockchain is poised to create multibillion dollar industry-wide impact, and startups from across the world are accelerating the growth and adoption of this innovation. HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai announced Emirates Blockchain Strategy, committing to 50% of gover- nment transactions over blockchain platform by 2021. With Dubai as the host of the Future Blockchain Summit, we look forward to welcoming innovative entrepreneurs, demonstrate our city’s progress, and drive dialogue about opportunities that this game changing technology presents.”