Blockchain Technology: Europe will invest US $ 800 million during the 2019

The 83% of that expenditure will be made in Western Europe and the remaining 17% in Central and Eastern Europe. Finance applications would be the sector where more will be invested.

The information was obtained from the "Global semiannual blockchain spending guide" of the International Data Corporation. For the year 2022, the expenditure is expected to reach US $ 3,6 1 billion, taking into account the basis of a compound annual growth rate of 73,2% to 2022.

For the International Data Corporation, the growth of companies that seek to incorporate blockchain platforms to their production processes and local businesses that drive marketing and sales activities would be the factors that most influence the increase in spending.

According to the guide, it is estimated that one third of the total spending on 2019 will be made in the finance sector, including trade financing, post-transaction settlements, cross-border payments and regulatory compliance. The reason would be that in Europe the blockchain would be consolidated in the financial sector, with banking as the leading industry.

Likewise, the insurance sector would be the fastest growing industry, with an annual growth rate of 81,3%. There would also be increased interest in block chains in industries such as manufacturing, supply chains, retail and wholesale, and transportation.

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Yamile Cárdenas
Yamile is a lawyer from the Pontificia Universidad Católica del Perú (PUCP). He is currently studying a Master's in Media and Politics at the University of Bologna, Italy. He has worked at SEMANAeconómica, EY Peru, ProInversion, PetroPeru, among others. Contact: yamile.cardenas@studio.unibo.it

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