In 2016, multiple corporations, financial institutions, venture capitalists and even governments invested more than $1 billion into blockchain startups, according to a Tractica report.
Here are three insights.
1. The worldwide revenue for enterprise applications of blockchain was $2.5 billion in 2016.
2. By 2025, the annual revenue for blockchain enterprise applications is projected to hit $19.9 billion, representing a compound annual growth rate of 26.2 percent.
3. Although blockchain began in the financial sector, there are 19 key industries expected to ramp up their use of the technology, including healthcare. This growth may be attributed to the compliance, cost savings and security blockchain offers, unlike traditional business processes.