Quant Network’s Overledger: Part Eight — Enabling Enterprise Mass Adoption

Existing Adoption

Enterprise Adoption

According to International Data Corp, total corporate and government spending on blockchain should hit $2.9 billion in 2019, an increase of 89% over the previous year, and reach $12.4 billion by 2022. When PwC surveyed 600 execs last year, 84% said their companies are involved with blockchain.

Permissionless vs Permissioned Blockckchains

Analysing the Forbes 50 Blockchain list

What’s most interesting is that nearly all of the Forbes 50 blockchain companies are using multiple blockchain platforms and Quant Network’s Overledger is the only interoperability solution that can connect to Ethereum, Hyperledger, Corda, Quorum, Bitcoin, Ripple and IOTA today.

This investment will be led by the financial services sector. The most popular use case in 2019 is cross-border payments and settlements with over $450 million in investment pouring in. And as we wrote about in our report on remittances, technology designed to address existing inefficiencies can be used for intra- and inter-bank payments as well as for individuals to instantly send money abroad at significantly cheaper rates. The use of blockchain technology will help the remittance market to grow to over $1 trillion in the next three years.

The area with the next most investment is trade finance and post-trade/transaction settlements. It should not come as a surprise that a $16 trillion industry where most processes are still done on paper is ripe for disruption. As we wrote recently, a number of consortia are working to use DLT and blockchain to reduce the inefficiencies of legacy systems.

Hyperledger

Barriers to further investment

Regulatory Issues:

Implementation — Replacing or adopting to legacy system

Potential security threats

Uncertain ROI

Lack of in-house skills/understanding

Technology is unproven

Concerns over sensitivity of competitive information

US Expansion

Consensus 2019

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