How blockchain revenue will reach $10.6 billion in 2023

More CIOs and CTOs are looking for digital transformation and smart technology solutions to their line of business leader innovation requirements. Blockchain and related distributed ledger technologies are already making an impact outside of the finance and insurance space from which they emerged. Promising new use cases are being trialed in a number of digitally transforming sectors -- notably supply chain management, retail and consumer, arts and entertainment, and public services. ABI Research now forecasts over $10.6 billion in software and services revenue for all combined blockchain related markets globally by 2023. "The success of blockchain in fintech has prompted significant investment in deploying the underlying infrastructure for application development and testing in other industries. Tech giants such as IBM, Microsoft, Amazon, SAP, HPE, and Oracle, among others, are pushing Blockchain-as-as-Service for first movers, often enabling integration with their existing enterprise software and cloud services," said Michela Menting, research director at ABI Research.