These are the 12 countries that would lead the “world blockchain...

The global expansion of the so-called distributed ledger technology (DLT) or blockchain would be concentrated in 12 countries in the next decade. The claim stems from the most recent distributed ledger report by consulting firm PricewaterhouseCoopers (PwC).

For PwC, China and the United States would lead the way in adopting this technology in the next 10 years. The Asian country would generate in this period a net profit of 440 billion dollars and about 11.4 million jobs. Meanwhile, the North American nation would add 407 billion dollars and another 2.2 million jobs.

They would be followed by Germany, Japan, the United Kingdom, India and France, all with a profit that would be between 50 thousand and 100 thousand million dollars. The twelve “bigs” would complete them: the United Arab Emirates, Sweden, Luxembourg, Spain and Italy with revenues of between 2 and 25 billion dollars.

In total, PwC estimates that the “global blockchain economy” could generate $ 1.7 trillion, a figure unimaginable until a few years ago when companies began to take a closer look at distributed crypto records. It would be about 1.4% of the world Gross Domestic Product (GDP).

It is striking that no Latin American or other American country generated high expectations for the firm. In fact, the rest of the world, about 190 countries, would produce 473 billion dollars altogether; Figures similar to those of China, which speaks of the concentration of services that would be enabled in Asia.

“Our economists expect blockchain technology to deliver benefits across a wide range of industry sectors. Much of the value will be done behind the scenes. We expect 10-15% of the world’s infrastructure to use blockchain in a decade, ”the report highlighted.

PwC points out that all this value can be generated by blockchains given the potential to reduce costs, accelerate transactions, promote greater financial inclusion, protect identity documents and improve the flow of commercial agreements, among other benefits. In addition, it should be mentioned that many companies could develop digital transformations oriented to “Industry 4.0”, in which blockchains would be included.

Blockchains for “all-purpose”

In relation to the main uses that would be given to blockchains, there are the following: track and trace products, payments and financial services, identity, contracts and resolution of disputes and commitments with customers.

On this point, PwC highlighted that “the biggest beneficiaries seem to be the public administration, education and health sectors.” Economists who participated in the report indicated that these three areas alone would generate $ 574 billion by 2030.

Those companies that provide corporate services, communications, the media themselves, and construction services will also benefit from blockchains. The reason is that it would serve to attract more consumers and “satisfy the demand for provenance and traceability.”

PwC is one of the business services companies that has followed blockchains and even bitcoin the most. CriptoNoticias reported in October 2018 that the company had hired 400 employees to offer advice on crypto assets.

DLTs could be more correctly referred to as Bitcoin technology, since it was from the first cryptocurrency that they began to analyze the implications of cryptographic records distributed separately.

It is a system in which two or more people can carry out transactions without requiring trusted third parties or intermediaries. The data is recorded in an immutable record that is visible to the participants or to any interested person, in many cases.