Blockchain GDP Impact Through 2030

PWC’s report “Time for trust: How blockchain will transform business and the economy” provides insights into the projected net additional value that blockchain technology can add to the global economy by 2030. The data, sourced from PwC’s “Time for trust” report in 2020, measures the GDP (in US$, 2019 prices) created by blockchain.

The graph showcases the potential economic impact of blockchain technology over time. The slider allows users to interact with the graph and view various points in the future, illustrating the growth and transformation that can be expected.

The data presented in the graph highlights the significant value that blockchain can bring to diverse industries. It signifies that blockchain has the capability to streamline processes, improve efficiency, and foster trust across sectors such as healthcare, government and public services, manufacturing, finance, logistics, and retail.

By leveraging blockchain technology, organisations can reduce costs, accelerate transactions, and promote financial inclusion. Cross-border and remittance payments can be streamlined, providing greater accessibility and efficiency in the global financial system.

In healthcare, blockchain plays a crucial role in ensuring patient safety by enhancing the authenticity and origin verification of drugs within the pharmaceutical supply chain. Patients gain more confidence in the medications they consume, knowing that the supply chain is transparent and secure.

The adoption of blockchain in the education sector enables a shift towards digital learning and eliminates the inefficiencies of traditional paper-based credentials systems. By embracing new technology, educational institutions can provide a trusted and tamper-proof verification process for their students’ credentials.

Blockchain’s impact extends to resolving disputes and enforcing trust in financial transactions. In case of disputes, blockchain technology can automatically block payments and trigger alerts, simplifying and expediting the entire dispute resolution process. It brings transparency and provenance to financial transactions, mitigating risks and ensuring accountability.

Moreover, blockchain has the potential to revolutionize loyalty programs by ensuring their sustainability. With digital payments becoming the norm, blockchain can facilitate the consolidation of loyalty programs while ensuring fairness and value for all participants.

Overall, the graph demonstrates the growing recognition and adoption of blockchain technology across industries. As blockchain continues to mature and gain wider acceptance, its impact on the global economy is set to be transformative. By fostering trust, improving efficiency, and driving innovation, blockchain has the potential to reshape the way businesses operate and contribute to the economy by 2030.

Source: PWC.com

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