One of the innovation buzzwords in recent years is the blockchain. This technology permeates the underlying workings of cryptocurrencies such as Bitcoin. But it holds huge potential outside of the payment sector and may even revolutionize the way the world economy works.
How do corporations leverage on blockchain in Asia today? How big is the blockchain ecosystem in Asia?
A key point to note is that most financial institutions in Asia are still in experimentation phases with blockchain technology. Every major bank in the region has, at the very least, a research team studiying blockchain technology.
Before 2015, most major investments were concentrated in Bitcoin-related enterprises such as those involved in miner chips, trading platforms, payment remittances and wallets.
As blockchain technology advances, more capital has been poured into settlement, smart contracts, supply chains, the Internet of Things (IoT) technology as well as data storage and analysis.
We observed these developments through our research and interviews with frontrunners in the Fintech scene.
Check out the infographic below to find out more !