The blockchain manufacturing market is expected to be worth $30 million by 2020, according to a recent market report. By 2025, the report states that the blockchain manufacturing sector will be worth over 560 million dollars.
This is an absolutely staggering level of growth. That’s almost a twenty fold increase in value in just seven years. Logistics and supply chain management applications will be what causes a large portion of the growth.
What does this level of growth mean for the average person looking for a job in the blockchain industry?
It means that there will soon be an entirely new job sector to work in – one which will need tons of talent.
What other implications does this have?
1. Blockchain Technology Has Huge Exponential Growth When It Finds an Application
This is more of a note for investors and speculators, but it’s an important lesson nonetheless. This report proves that whenever blockchain technology has an application, it has the tendency to grow exponentially in that field.
This will apply to the medical sector in the future. This will apply to the financial sector.
The only significant obstacle is the lack of regulation and that’s being worked on right now.
2. Countries That Embrace Blockchain Will Have an Advantage over Those That Don’t
In 10 years the blockchain manufacturing sector could be a billion dollar industry. China in particular is focusing heavily on adopting the blockchain into its manufacturing processes with its industry 4.0 plan.
China is attempting to transition from a manufacturing base focused on quantity to one based on quality. They intend to use the blockchain to help them do that.
Other countries are embracing the blockchain as well. The US and other countries need to be working on the applications of blockchain technology, or they’ll be left behind in this technological race.
3. Many Businesses Are Already Developing Blockchain Technology
This report implies that many businesses are already developing blockchain technology. If you don’t want to be left in the dust, your business will need to develop blockchain technology as well to compete.
The big question is where blockchain will be after these seven years of exponential growth.
I believe we’ll see it expand into new markets in ways we haven’t foreseen.
I believe we’ll start to see mass adoption of a global digital currency with a near-instantaneous transaction speed.
We will probably look back and ask ourselves how we missed out on seeing that this was the next big technological revolution.
Here’s hoping blockchain becomes the next internet!
Will Salisbury is the co-founder of Blockchain Decrypted and full-time cryptocurrency trader. He also hosts the Blockchain Decrypted podcast, and when he's not talking or writing about blockchain technology and cryptos, he likes to play games and relax in his home state of Michigan.
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