Europe is going all in blockchain technologies – future investments of $815 million


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Despite a volatile market for the cryptocurrencies, blockchain technologies are thriving. Europe appears to be at the forefront of blockchain investments.

According to a report by IDC’ Worldwide Semiannual Blockchain Spending Guide, Europe will spend more than $800 million in blockchain-related technologies in 2019. The total spending amount will reach the staggering $3.6 billion by 2022.

CAGR is reported at around 73% for the period 2018 – 2022.

Of the total projected spending, 83% will come from Western Europe, and the rest coming from Central and Eastern Europe.

According to an analyst at IDC:

In terms of technologies, IT services, such as consulting, outsourcing, deployment and support, and education and training, will drive spending, accounting for nearly 63% of European spending in 2019, growing at a 2018–2022 CAGR of 76.6%.

Blockchain technologies and investments in the market have exceeded any expectations. The wide adoption of the technology has streamlined multiple sectors and industries. Western Europe will definitely be a top-notch destination for blockchain development and new applications of the the technology itself.

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Europe is going all in blockchain technologies – future investments of $815 million

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