3 Blockbuster Blockchain Trends in 2021

Gartner 13 Jan 2021 06:14

2021 is the year enterprise (permissioned) blockchain begins its long climb out of the ‘trough of disillusionment’. (See Gartner Hype Cycle for Blockchain Technologies, 2020). The climb will be slower than the recent stellar rise in Bitcoin’s price, but it will move forward nonetheless, surely and steadily.

Our annual Gartner survey of blockchain service providers revealed that 14% of enterprise blockchain projects moved into production in 2020, up from 5% in 2019. (See Blockchain Trials show Business Executives Drive Focused Solutions to Production). We expect production use cases to keep growing by double digit percentages in 2021, as three key trends push the permissioned blockchain market up the Gartner Hype Cycle ‘slope of enlightenment’.

Trend 1: Maturation of Cryptocurrencies and Central Bank Digital Currencies

As it turns out, Bitcoin’s stellar appreciation is not inconsequential to the growth of enterprise (permissioned) blockchain. Bitcoin is now endorsed by mainstream investors like Stanley Druckenmiller and Paul Tudor Jones and is a growing piece of MicroStrategy’s corporate balance sheet, courtesy of CEO Michael Saylor.

Trend 2: Truth in Supply Chain – driven in part by Environmental, Social, Governance (ESG) goals

Trend 3: Blockchain Middleware Abstraction Layers

What’s Next after these Top Trends?

Societal benefits

Societal benefits are perhaps the ultimate crown jewels for decentralized public blockchains but one thing we can be sure of- these benefits won’t make it into the top 2021 trends. Governments are slow to change and social media networks’ business models don’t currently support authenticating news sources. Let’s hope these use cases start materializing in 2022 and the full promise of decentralized public blockchains is achieved.

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BitcoinBlockchain TechnologiesDrive Focused SolutionsStanley Druckenmiller
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