Britain's Economy Could be Saved with Blockchain

Blockchain is the future and everyone can see it now. It’s everywhere around and, and it’s now heavily used even in sports betting. You can read more about sports betting, but in the meantime, it’s good that you learn about the technology that’s taking over the future. The most recent research showed Blockchain can have an even bigger impact than anyone ever thought it could. According to an analysis taken by PwC, Blockchain technology could boost the UK economy by a staggering £57 billion! Yes, you read that right!

The Rising Force

PwC experts calculated the potential impact of Blockchain in the UK industry. Every industry out there could feel this change, ranging from healthcare and finance to manufacturing. Most people associate Blockchain with Bitcoin. However, its potential is far greater than that. This technology could completely change the way the data is stored, modified, and shared in the future. It’s been said that Blockchain could become the staple of data security worldwide.

However, PwC still underlines the fact that making the most out of Blockchain will need the industry to come together. All industry sectors in the country will have to adapt to the new technology, and it seems as if the potential reward is too big to pass up.

Public Support

There are many benefits to Blockchain, but the biggest could be for the general public. Blockchain could become the gamechanger in the public services department. Public administration, education, and healthcare are in line to receive a boost of £22 billion by 2030.

Across the globe, Blockchain has the potential of boosting the worldwide economy by $1.7 trillion come 2030. This whole ordeal isn’t just a fairytale. Asia are already seeing a positive impact, and they could see the most profit with the new technology rising with each passing day. As things stand, China with $440 billion and the USA with $407 billion could profit the most by the end of 2030.

Amongst the top other potential winners are Germany, Japan, UK, India, and France.

Serious Approach

The Blockchain leader at PwC, Steve Davies, underlined the fact that it’s important to take this technology seriously. Full department of Blockchain experts could easily become a nominal requirement in all the biggest companies in the UK. This is due to the fact that most of the companies will rely only on a handful of Blockchain enthusiasts rather than taking an all hands on deck approach. It seems as if now is exactly the right time to hop on the rising wave. Those who do it will have a big advantage down the line when every bit of information and knowledge about Blockchain could become as precious as gold.

Conclusion

Ready or not - the world is changing. The new technologies are growing and every day is a new opportunity for learning. Read and educate yourselves. Who knows, because Blockchain might just take the world by storm in the upcoming decade.