Cointelegraph Research used the current market penetration of different projects, the compound annual growth rate (CAGR) of the industry, and various macroeconomic factors to create an equation of exchange model, which was used to project the future total value locked (TVL) and potential penetration of blockchain technology in each segment. For example, in 2022, the estimated size of the global insurance market was $5.94 trillion, with the blockchain industry penetration rate at 0.01%. Cointelegraph Research forecasts that by 2025, blockchain projects will penetrate 0.05% of the total addressable market, at a TVL of $4.2 billion.<\/p>\n
The world is already on the blockchain in many ways<\/h2>\n
Bitcoin has been on a run during the past few weeks, and the crypto industry has reclaimed a $1 trillion market capitalization \u2014 but there are other markers also pointing to positive signs for future adoption. A June 2022 Deloitte survey found that 75% of United States retailers planned to accept crypto payments within two years, while a Cointelegraph survey last year found that 62% of professional investors held digital assets. Meanwhile, $36.6 billion in venture capital was invested into the blockchain industry in 2022, which will help grow new projects in the future.<\/p>\n
The \u201cBlockchain Use Cases and Adoption Report\u201d covers this and blockchain\u2019s current financial use cases, but it also dives deeper into its applications in entertainment, data management, ESG (environmental, social and governance), and decentralized autonomous organizations.<\/p>\n
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More than just a fiat replacement<\/h2>\n
The Bitcoin revolution inspired the creation of more than just an electronic cash system, with the technology having since morphed into many different applications. The \u201cBlockchain Use Cases and Adoption Report\u201d purposefully stays away from projects still in the incubation stage, instead focusing on those whose adoption of blockchain has actively impacted the market landscape.<\/p>\n
For example, as highlighted in the \u201cData Management\u201d section of the report, Internet of Things sensors have a great CAGR and can grow significantly in their sector over the next two years. They offer great solutions to various current sensor applications, such as smart cities and even automobiles, which can use distributed ledger technology like blockchains or directed acyclic graphs to better interact with the environment around them. <\/p>\n
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Cointelegraph Research\u2019s latest report also covers royalties, advertising, events, gambling, video games, securitization and several other topics, analyzing how they work and where they could go in the future.<\/p>\n
The Cointelegraph Research team<\/h2>\n
Cointelegraph\u2019s Research department comprises some of the best talents in the blockchain industry. Bringing together academic rigor and filtered through practical, hard-won experience, the researchers on the team are committed to bringing the most accurate, insightful content available on the market.<\/p>\n
Michael Tabone is the deputy director of research at Cointelegraph. The research team is composed of subject matter experts from across the fields of finance, economics and technology to bring to the market the premier source for industry reports and insightful analysis. The team utilizes APIs from a variety of sources in order to provide accurate, useful information and analyses. <\/p>\n
With decades of combined experience in traditional finance, business, engineering, technology and research, the Cointelegraph Research team is perfectly positioned to put its combined talents to proper use with the \u201cBlockchain Use Case and Adoption 2023 Report.\u201d <\/p>\n
The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.<\/p>\n