In the next 25 years, blockchain will bring positive disruption to the financial, technology, brand and consumer products, and sports and entertainment industries.
The continued development of blockchain application scenarios will become an important disruptive force in the future, including cryptocurrencies and stablecoins, tokenization of real assets, decentralized applications, and self-hosted wallets. The integration of artificial intelligence and encryption technology will also bring new impacts.
Research includes insights and interviews with senior leaders from Visa, Standard Chartered, Polygon, Google, Aptos, Manchester City Football Club, McLaren Racing and Franklin Templeton.
Cryptocurrency exchange and on-chain technology company OKX and crypto research platform Blockworks Research jointly released a report today titled The Future of Blockchain Applications: Reshaping Global Industries. The report explores how blockchain applications will reshape the financial, technology, brand and consumer products, and sports and entertainment industries in the next 25 years.
The report points out that the continued development of blockchain application scenarios will play a disruptive role in these key business areas, including cryptocurrencies and stablecoins, real-world asset tokenization, decentralized applications, and self-hosted wallets. Research shows that by 2030, the total asset management scale of real-world asset tokenization may reach US$600 billion; by 2027, 10% of the global GDP is expected to be tokenized and stored on the blockchain.
The report also points out that as encryption technology provides strong incentives for AI training and deployment, AI and encryption technology will accelerate the integration, bringing more efficient coding and troubleshooting capabilities.
According to Rich Widmann, director of Web3 strategy at Google Cloud, a respondent in the report, “Blockchain is a hyperbaric chamber for innovation… We envision a digital world 20 years from now where transactions can be seamlessly digitized, and daily tasks and interactions will become more efficient without relying on traditional devices. This reflects our broader vision of integrating AI and blockchain to achieve more efficient business and protocol coding.”
The research is based on interviews with industry experts, analysis by OKX and Blockworks Research, desktop research, and existing industry surveys. Respondents came from many leading companies, including Visa, Standard Chartered Bank, Polygon, Google, Aptos, Manchester City Football Club, McLaren Racing, and Franklin Templeton.
Haider Rafique, Managing Partner and Chief Marketing Officer of OKX, said: At OKX, we envision a future where blockchain technology reshapes almost all industries. This report shows a glimpse of the transformative potential of blockchain, which we believe will fundamentally redefine business models and build a new economic paradigm. We are looking forward to witnessing and promoting how blockchain technology will revolutionize the way we live, work and do business on a global scale.
“Working with OKX on this report was a unique opportunity to explore the far-reaching impact of blockchain technology, and we are excited to share how this technology is poised to reshape the global economy,” said Jason Yanowitz, co-founder of Blockworks. “We are honored to present these insights in partnership with OKX, especially as we observe how blockchain is changing the way the world practices business, transacts, and creates value.”
Key industry insights
Financial field——Blockchain applications are reshaping value creation methods and financial products
• Institutional investors will continue to allocate funds to digital assets and related products. Further development of trading products and custody services will make it easier for investors to allocate assets and increase exposure in the coming years.
• Stablecoins are expected to reshape the global payment landscape. Large companies such as Visa are investing money and resources, and the market value and usage of current mainstream stablecoins are also continuing to grow.
• Crypto-native businesses have solved the legacy challenges of traditional systems in self-custody and payments, making it easier for the next generation of retail and commercial users to enter Web3 through their own digital wallets. In the future, financial services companies will create their own dApps based on self-custody wallets.
• Mainstream financial services firms are moving toward a “tokenized” future. More than two-thirds of financial services industry respondents said they are developing capabilities to support the issuance and servicing of tokenized assets.
Technology field: Infrastructure is transforming to the chain
• Blockchain is changing the way software, networks and data systems are built and how they are used.
• Blockchain will influence the future direction of AI. Startups and developers are exploring how to decentralize the development of AI systems through blockchain.
• Blockchain and privacy protection will co-evolve in the online world, enabling users to transact anonymously while maintaining control over their personal data.
• The convergence of blockchain, cloud computing and AI is happening now and is expected to grow into a multi-trillion dollar opportunity.
Brand and consumer goods sector—— Blockchain is improving brand experience
• Mainstream consumer goods and luxury brands are actively exploring the potential of blockchain. Large retailers such as Walmart and luxury brands such as LVMH are integrating blockchain technology to revolutionize supply chain transparency and production processes.
• Consumer goods and luxury brands are testing various blockchain application scenarios that reshape business models, including digital product passports, luxury NFTs, smart contract-based business operations, and blockchain-based product life cycle tracking.
• The consumer and luxury goods industries are integrating the physical and digital, moving further towards an on-chain future; at the same time, digital experience can help different consumer companies and enhance user loyalty.
Sports and entertainment sector: Blockchain is changing events and fan experience
• Sports organizations and teams are using blockchain technology to enhance fan interaction experiences, such as launching digital collectibles, team-specific tokens, and customized events. Blockchain applications are expected to further expand into new areas such as the metaverse and sports betting.
• Encryption technology will bring creators a higher share of revenue and greater autonomy, which is in stark contrast to the current situation where creators in the film, television, music and other industries need to share profits with platforms.
• Blockchain will reshape the gaming ecosystem and provide economic incentives for players. Interoperability and the “earn while playing” model are expected to bring more sustainable funding mechanisms to gamers.
Visit this page to download the full report: https://www.okx.com/campaigns/okx-blockworks-research-report
Disclaimer
This article is for reference only. This article only represents the authors views and does not represent the position of OKX. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professionals for your specific situation. Please be responsible for understanding and complying with local applicable laws and regulations.
