Finance, technology, brand and consumer goods, and sports and entertainment will be positively disrupted by blockchain in the next 25 years
OKX, a leading crypto exchange and global onchain technology company, in partnership with Blockworks Research, a crypto research platform, announced the release of a report, titled: “The Future of Blockchain Applications: Reshaping Global Industries,” which examines how finance, technology, brand and consumer goods, and sports and entertainment will be transformed by blockchain applications in the next 25 years.
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The report finds that the ongoing development of defined blockchain use cases cryptocurrencies and stablecoins; real-world asset tokenization; decentralized apps (dApps); self-custody wallets and payments will act as a key disruptor across these vital business sectors. Research indicates that total assets under management of tokenized real-world assets could reach $600 billion by 2030*, with 10% of global GDP potentially tokenized and stored on the blockchain by 2027*.
The report also finds that AI and crypto will converge, enabling more effective coding and troubleshooting, with crypto creating strong incentives for AI training and deployments.
According to report interviewee and Google Cloud Head of Web3 Strategy Rich Widmann: “Blockchain is a pressure chamber of innovation…[In 20 years we see a] world where digital intelligence can seamlessly transact in digital forms, enhancing everyday tasks and interactions without the need for traditional devices. This reflects a broader ambition to integrate AI with blockchain for more efficient commerce and agreement codification.”
The research findings are based on interviews with industry experts, analysis from OKX and Blockworks Research, desktop research and existing industry surveys and studies. Interview respondents represent leading companies, including: Visa, Standard Chartered, Polygon, Google, Aptos, Manchester City Football Club, McLaren, Franklin Templeton, and others.
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OKX Managing Partner and CMO Haider Rafique said: “At OKX, we envision a future where virtually every industry will be reshaped by onchain technology. Our report offers a glimpse into the transformative potential of blockchain, which we believe will fundamentally redefine business models and establish new economic paradigms. We’re excited to witness and influence how blockchain technology will revolutionize the way we live, work and conduct business on a global scale.”
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Blockworks Co-Founder Jason Yanowitz said: “Working with OKX on this report has been a unique opportunity for us to explore the far-reaching implications of blockchain technology, and we’re excited to share how this technology is poised to redefine our global economy. It’s an honor to partner with OKX in bringing these insights to light, especially as we observe blockchain revolutionizing business practices, trading paradigms and value creation worldwide.”
Key insights by sector
Finance – Blockchain applications are reshaping value creation and financial products
- Institutional investors will continue to allocate capital to digital assets and related products. Further development of trading products and custody services will make it easier for investors to allocate and increase exposure in the years ahead.
- Stablecoins are primed to alter the global payments landscape. Major firms like Visa are investing money and resources, and today’s top stablecoins continue to grow in market capitalization and use.
- Crypto-native firms have solved legacy issues around self-custody and payments, making it easier for the next-generation of retail and commercial users to onboard to Web3 using their own digital wallets. In the future, financial services companies will create their own dApps on top of self custody wallets.
- Major financial services firms are moving toward a tokenized future. More than two-thirds of financial services interview respondents said they are developing capabilities to support the issuance and servicing of tokenized assets.
Technology – Infrastructure is transforming onchain
- Blockchain has changed how software, networks, and data systems are constructed and used.
- The future of AI will be influenced by blockchain. Startups and developers are exploring how blockchain can decentralize the development of artificial intelligence systems.
- Privacy and blockchain will improve symbiotically online, enabling users to transact pseudonymously while maintaining control of their personal data.
- The convergence of blockchain, cloud computing, and AI is underway and could grow into a multi-trillion-dollar opportunity.
Brand and consumer goods – Blockchain is enhancing the brand experience
- Major consumer and luxury brands are poised to tap blockchain’s potential. Big box retail operators like Walmart and luxury brands such as LVMH are integrating blockchain to revolutionize supply chain transparency and production processes.
- Consumer and luxury brands are experimenting with use cases that can reshape their businesses, including digital product passports, luxury-brand NFTs, smart contracts for business practices, and blockchain-based product lifecycle tracking.
- Consumer and luxury goods are blending the physical and digital for an onchain future, and digital experiences will foster loyalty across different types of consumer businesses.
Sports and Entertainment – Blockchain is changing the game and fan experience
- Sports organizations and teams are leveraging blockchain technology to enhance fan engagement through digital collectibles, team-specific tokens, and unique experiences. Blockchain applications are expected to expand into new areas including metaverse and sports betting.
- Crypto will allow creators a greater share of and control over revenue. This is in stark contrast with today’s state of affairs, in which creators in the film, TV, and music industries must share revenue with hosting platforms.
- Blockchain will reshape the gaming landscape and provide financial incentives to players. Interoperability and the play-to-earn model can create more sustainable funding models for gamers.
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Source: PRnewswire
