Blockchain is a technology that became popular after the launch of Bitcoin. It is basically a list of records (blocks of data) that are interconnected by the use of cryptographic hash, timestamp, and transaction data.
Blockchain is an excellent way of storing data since it is decentralized and nearly impossible to tamper with. That’s the reason why it was used in cryptocurrency development. If you want to learn more about this technology through the latest blockchain statistics, keep reading the text below.
Fascinating Blockchain Facts (Editor’s Choice)
- 77% of financial institutions were expected to start using blockchain in 2020.
- 51% of businesses will make the transition to AI with blockchain.
- 64% of professionals think that using blockchain will improve their industry.
- Businesses will earn up to $3.1 trillion by 2030 thanks to blockchain.
- Blockchain developers make between $150,000 and $175,000 annually.
Current Blockchain Trends
1. 2.77 billion social media users will be safer with blockchain.
(BBVA)
Some of the latest data (2019) show that there are approximately 2.77 billion social media users in the world. The implementation of blockchain technology in social media platforms will lead to a better and safer online environment. This move should solve all problems regarding privacy violations, data control, scandals, and content relevance.
2. 77% of financial institutions were expected to start using blockchain in 2020.
(BBVA)
Among other blockchain trends in 2020, one of the most important was the expectation that approximately eight out of ten financial institutions would start using this new technology in their businesses. Another 82% should increase their FinTech partnerships within the next few years. This means that traditional banking operations are willing to change the course, thanks to blockchain.
3. 1 billion people will have some data on the blockchain by 2022.
(BBVA)
We’ve mentioned above that one of the most important blockchain benefits is data privacy. This is very interesting to the governments, and it can be expected that around 1 billion people will have some data on them stored on blockchain by 2022. The downside is that those people probably won’t be aware of this.
4. 26 billion internet-connected devices will be decentralized.
(BBVA)
Among companies using blockchain technology are the ones that are developing and selling IoT (Internet of Things) products. Implementing blockchain in IoT architecture will help decentralize a network of 26 billion devices, making them safer, and that will be a great leap forward for this industry. It is good to know that, at the moment, approximately 60% of US households already use at least one device connected by IoT apps.
5. 51% of businesses will make the transition to AI with blockchain.
(BBVA, Statista)
According to the gathered blockchain facts in 2020, it became obvious that AI and blockchain are going hand in hand. The global AI market will reach $341.8 billion in 2021, and every other business (51%) will migrate to AI using blockchain integration. This action will improve machine learning, and AI will become more understandable and coherent.
The Predictions for the Blockchain Market
Now that you’re informed about current trends, it would be valuable to learn something about the future of this industry. The market will keep changing in years to come, and blockchain will become an integral part of almost every business conducted online.
6. The blockchain industry will reach up to $60.7 billion by 2024.
(YourTechDiet)
Blockchain may be one of the biggest breakthroughs in technology, and that’s why it isn’t surprising that this industry will reach up to $60.7 billion by 2024. The benefits of blockchain growth and implementation will be detected in various industries, and it is yet to be seen how it will affect the global economy.
7. The US will spend up to $4.2 billion on blockchain solutions by 2022.
(AiThority)
According to the latest blockchain statistics, the United States is taking the lead when it comes to investing in this technology. Namely, the country plans to spend up to $4.2 billion on blockchain solutions and architecture by 2022. This is a big step forward compared to 2019, when investments in the blockchain were around $1.1 billion.
8. China will spend up to $1.42 billion on the blockchain by 2022.
(YourTechDiet)
The blockchain industry is growing around the globe, which is best illustrated by China’s efforts to compete with the US when it comes to investing in this technology. China plans to spend up to $1.42 billion on blockchain architecture by 2022.
9. 55% of healthcare applications will be using blockchain by 2025.
(TheBlockBox)
By looking at the upcoming healthcare blockchain statistics, we’ve discovered that the health industry plans to incorporate blockchain in its applications in the near future. Namely, 55% of healthcare applications will be using blockchain architecture by 2025. By the same year, the money invested in blockchain in healthcare should increase from $170 million to $5.61 billion.
10. Blockchain market value in the food industry will go up to $1.4 billion by 2028.
(Medium)
The food industry and the market it covers are changing under new technologies as well. While talking about blockchain adoption by industry, we should mention the one producing and selling food. One of the biggest markets in the world, the agriculture and food market, will contribute to the market value of blockchain up to $1.4 billion by 2028.
Latest Cryptocurrency and Bitcoin Statistics
The cryptocurrency market showed the practical way of using blockchain technology, and the time when the world learned about blockchain was back in 2009 when Bitcoin was released.
Here are some interesting findings on this cryptocurrency and its trends.
11. Bitcoin is unrestricted in 131 of 257 countries and regions.
(Coin Dance)
If we want to learn about the Bitcoin adoption rate, we should say that this cryptocurrency is legal or unrestricted in 131 of 257 countries or regions. Keep in mind that these numbers are changing, so it’s just a matter of time when the entire world will accept Bitcoin as a currency.
12. Financial services use 8.14% of Bitcoin volume.
(Coin Dance)
According to crypto stats, some niches are more interested in Bitcoin than others. Financial and investment services are first on the list, and this part of the market is using 8.14% of the entire Bitcoin volume. They’re followed by software at 3.72% and banking services at 3.3%.
13. 85.77% of Bitcoin users are males.
(Coin Dance)
According to the gathered data about cryptocurrency demographics, it is obvious that Bitcoin is mainly used by males. Namely, 85.77% of all users engaged in Bitcoin are men, while only 14.23% are women. This difference may get lower in the future when this cryptocurrency gets more accepted by wider society.
14. 41.35% of people using Bitcoin are 25 to 34 years old.
(Coin Dance)
One of the most interesting facts about cryptocurrency is that the majority of people using Bitcoin are 25-34 years old (41.35%). This age group is followed by those between 35 and 44 years old (20.16%) and those between 18 and 24 (16.65%) years old.
15. Bitcoin’s dominance in the crypto market is 61.92% as of mid-February 2021.
(Coin Dance)
According to the latest Bitcoin stats, we can conclude with certainty that Bitcoin is dominating the crypto market. This currency holds a 61.92% share in the whole market, and this probably happened because Bitcoin was the first cryptocurrency ever released.
16. Ethereum holds a 14.23% share in the crypto market.
(Coin Dance)
The latest Ethereum blockchain statistics show that this cryptocurrency is the second largest when it comes to its share in the whole crypto market. As of mid-February 2021, Ethereum holds a 14.23% share in the cryptocurrency market, and is followed by Tether with 2.17%.
17. 1% of the crypto market goes to Litecoin.
(Coin Dance)
According to the gathered Litecoin blockchain statistics, this currency holds 1% of the whole crypto market, and is one of the biggest ones besides XRP (1.85%), Cardano (1.81%), Polkadot (1.73%), and Binance Coin (1.4%). All other coins hold a share of 13.89% of the crypto market.
18. There are more than a couple of thousands of cryptocurrencies available on the market.
(Investopedia)
Some cryptocurrency blockchain statistics suggest that the cryptocurrency market is getting bigger every day and currently has more than 2,500 different currencies available. However, not all of them provide any real value that the top 100 do. Of course, it is obvious that Bitcoin is king at the moment, but we’ll see what will happen in the future and if any other crypto will dethrone it.
19. The Bitcoin blockchain size was approximately 330 GB in February 2021.
(Statista)
By the end of February 2021, the size of the Bitcoin blockchain got up to 330 GB. This blockchain was increasing very fast since the day Bitcoin was launched back in 2009. For example, back in 2017, the Bitcoin blockchain was around 122 GB large, which means it nearly tripled in only three years.
20. The Bitcoin blockchain got up to 343.2 GB in May 2021.
(Ycharts)
The current Bitcoin blockchain size shows the neverending rise, and it got up to 343.2 GB in May 2020. These numbers are getting bigger daily, and this trend will continue in the future, even after the last of 21 million Bitcoins is mined. It is obvious that the current size of blockchain and mining difficulty will also increase in time, while more and more hard drive storage space will be needed for Bitcoin blockchain.
21. Approximately 340,000 Bitcoin transactions were recorded daily in February 2021.
(Statista)
When we take a look at the number of Bitcoin transactions per day, we can see the lasting trend of approximately 340,000 daily transactions. More precisely, in February 2021, there were about 340,000 transactions daily.
Compared with the same period in 2017, when there were around 328,000 daily transactions, we can conclude that blockchain usage has a steady trend that is not varying a lot. This is important for any cryptocurrency, but especially for those that are yet to be used on a large scale.
Other Important Blockchain Trends and Statistics
22. 64% of professionals think that using blockchain will positively affect their industry.
(York Solutions)
When asked if the implementation of blockchain will make their industry better, 64% of professionals answered affirmatively. It should be mentioned that 70% of those professionals have never used blockchain before, but they’re willing to try it and improve their businesses.
23. Business value added by blockchain will grow up to $360 billion by 2026.
(York Solutions)
Blockchain growth projections undoubtedly suggest that this technology will be implemented in various industries, and the value it can generate will be somewhere around $360 billion. This should happen by 2026. When compared with the projected $10 billion by 2022, it is easy to conclude that blockchain won’t stop penetrating the business area.
24. Businesses will earn up to $3.1 trillion by 2030, thanks to blockchain.
(York Solutions)
Other blockchain usage statistics suggest that the effect of blockchain implementation in business will help those companies increase their value. If current trends continue, businesses will earn up to $3.1 trillion by 2030, thanks to blockchain implementation.
25. The Blockchain-as-a-Service market will go up to $982.8 billion by 2025.
(Business Wire)
Blockchain market analysis, and especially the analysis of the Blockchain-as-a-Service market, shows a great increase in the past couple of years. In 2019, this market was valued at $420.5 billion, and it is expected to get to $982.8 billion by 2025. This is an increase of 15.2% over the period between 2020 and 2025, which is more than good.
26. The global blockchain market will grow by 67.3% between 2020 and 2025.
(MarketsandMarkets)
Almost every piece of gathered data suggests that blockchain will keep spreading in the years to come. When it comes to global blockchain market statistics, we can also spot big jumps when it comes to its value. For example, the market worth in 2020 was around $3 billion, and it will go up to nearly $40 billion by 2025. This means that it will grow by 67.3% over the next five years.
27. Investments in blockchain went from $1 million in 2012 to $4.15 billion in 2018.
(Statista)
According to gathered blockchain funding statistics, it is obvious that this branch of blockchain is also recording a big increase. A lot of companies decided to invest in technology when it appeared. During 2012, investments toward blockchain architecture were around $1 million, and by the end of 2018, they went up to $4.15 billion.
28. IBM invested more than $200 million in blockchain research and development.
(Built In)
Some of the latest blockchain statistics show that IBM is leading when it comes to investing in research and development of blockchain technology. It already spent over $200 million for this purpose and helped approximately 220 businesses to develop applications and data governance tools that are based on blockchain.
29. 69% of banks are currently experimenting with blockchain technology.
(Dot Com Infoway)
The obvious benefits of blockchain technology, especially those concerning security and privacy, attracted banks all over the world to start experimenting with blockchain. Namely, 69% of all banks in the world are currently looking for the best ways of implementing blockchain technology into their systems. It is also stated that 33% of bankers expect commercial blockchain adoption in 2021.
30. Banks will save between $8 and $12 billion, thanks to blockchain.
(Reuters)
According to gathered blockchain adoption statistics and feedback from banks, it looks like implementing this technology will increase their revenue. It is projected that banks using blockchain architecture will save between $8 and $12 billion every year, and this should decrease infrastructure costs by 30%.
31. Unknown user managed to withdraw $50 million worth of Ethereum.
(ICTworks)
Besides obvious benefits, there are, unfortunately, some blockchain risk statistics. There are some downsides when it comes to cryptocurrency, and one of them is that they’re not as regulated as other traditional assets. Namely, one user hacked an organization that held great amounts of Ethereum and withdrew $50 million back in 2016, which significantly dropped the value of this cryptocurrency. This was one of the reasons why the Ethereum community created a new cryptocurrency — Ethereum Classic.
32. Blockchain developers can make between $150,000 and $175,000 annually.
(CNBC)
It is time to check some blockchain developer statistics, and it looks that learning this technology can bring you some nice cash. Since 2017, demand for these profiles increased by 400%. Blockchain developer salary is one of the highest in the industry and varies between $150,000 and $175,000 annually. This data is gathered from the United States’ companies.
33. 37% of available blockchain jobs are remote-friendly.
(The Enterprisers Project)
While going through gathered blockchain stats that concern those in search of jobs in this industry, we’ve found that 37% of available blockchain-related jobs are remote-friendly. This is much higher compared to other companies. Namely, only 15% of them will allow you to work from home or other remote places.
34. There are more than 9,500 blockchain-related jobs in LinkedIn search.
(The Enterprisers Project)
While looking at statistics about the blockchain and searching for companies working on this technology, we’ve found that when you search for ‘blockchain’ in LinkedIn, you’ll be prompted with approximately 9,500 open positions. This number varies daily, but you can rest assured that your skillset will be paid well if you’re a blockchain developer.
Conclusion
It is clear by now that blockchain technology is changing the world of business, and its highest capacities are yet to be seen. Until then, it would be great to hop on this train and learn as much as you can about this innovative technology.
The data we’ve shared is a good starting point for anybody who wants to get educated on this topic and maybe become a blockchain developer.
FAQ
What of the world population uses blockchain?
According to some data, it looks like only 0.5% of the world’s population is using blockchain-related technology. When we take into consideration that almost 50% of the population has access to the internet, this number looks even smaller. This will probably change in the future once cryptocurrencies become mainstream.
What is the most popular blockchain?
There are numerous blockchain platforms at the moment, such as Ethereum, Ripple, Corda, OpenLedger, EOS, Hyperledger Sawtooth, OpenChain, and many others. IBM, as a company, invested the most in the research and development of blockchain technologies.
How many blockchains were there in 2020?
While there are some data that suggest there are more than 850 blockchains out there, it is good to know that approximately 100 of them are worth considering investing in. Other blockchains are a lot smaller, and communities around them are just starting to form. The popularity of Bitcoin is keeping all these smaller currencies on the margin, but that might change in the future.
What are the types of blockchain?
There are basically four types of blockchain:
- Public blockchain – It is available to everyone. For example, the Bitcoin network is the most popular public blockchain. Every person with access to the internet can view transactions carried out on a blockchain of this type.
- Private Blockchain – This blockchain can be used only in a closed network, such as those that multinational companies use. You need a special permission to access them.
- Consortium Blockchain – This type can be used within more than one organization, which makes it semi-decentralized. It is mostly used by banks and government organizations.
- Hybrid Blockchain – This type of blockchain is a mix of a private and public blockchain.
Is blockchain worth learning in 2021?
Yes, of course. While there are more than 30 million software developers in the world, only several hundred thousand are blockchain developers. This technology is young, and this industry is not even near its peak. If you have knowledge required for blockchain development or want to learn the necessary skills, don’t hesitate. There are plenty of sources to learn from, and getting familiar with the latest blockchain statistics is a great starting point.
Sources:
- AiThority
- BBVA
- Bitdegree
- Built In
- Business Wire
- CNBC
- Coin Dance
- DataFlair
- DevSkiller
- Dot Com Infoway
- EM360 Tech
- The Enterprisers Project
- ICTworks
- Investopedia
- MarketsandMarkets
- Medium
- Reuters
- SSIR
- Statista
- Statista
- Statista
- Statista
- TheBlockBox
- Vomtom
- Ycharts
- York Solutions
- YourTechDiet
