IDC FutureScape: Worldwide Blockchain, Crypto, NFT, and Web3 2024 Predictions
This IDC study provides IDC's top 10 predictions for blockchain, crypto, NFT, and Web3."Decentralized technologies, such as blockchain, distributed ledger technology, NFTs, cryptocurrency, and Web3, will continue to have a major impact across every industry and will combine with other technologies like GenAI as well," notes Phillip Siltschanu, research director of Global Blockchain, Cryptocurrency, NFTs, and Web3 Strategies at IDC.
Please Note: Extended description available upon request.
IDC FutureScape Figure
Executive Summary
IDC FutureScape Predictions
Summary of External Drivers
Predictions: Impact on Technology Buyers
Prediction 1: By 2026, 50% of Financial Institutions Will Rely on Blockchain/DLT to Verify Account and Identify Veracity in Regard to AML and/or QIB, Accredited Investor, and so Forth
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 2: By 2026, Insurers' Investments in Smart Contracts and Cryptocurrencies Will Propel Crypto-Custody and Exchange Insurance to Dominate 70% of the Global Web3 Insurance Market
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 3: By 2029, 100% of Newly Issued Securities in the United States (Equities, Debt Instruments, Derivatives, Etc.) Will Be Issued as a Digital Asset (Most Likely a Variant of NFTs)
Associated Drivers
IT Impact
Business Impact
Guidance
Prediction 4: By 2027, 20% of the Top 1000 Global Enterprise Database Will Adopt a Decentralized Design for Global Resiliency
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2028, 90% of De Novo Data Being Utilized in Data Sets for GenAI Will Be Watermarked by Blockchain/DLT and/or Will Be Tracked Via NFTs
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2026, Web3-Based Lending Volume Will Reach $400 Billion and Result in Net Loan Losses of Less than 0.1%
Associated Drivers
IT Impact
Guidance
Prediction 7: By 2025, 5% of Countries Will Have Issued Sovereign Debt Instruments Using Blockchain Technology
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2029, Wholesale CBDCs Will Modernize Existing Wholesale Payment Systems to Boost Automation, Transparency, Sustainability, and Cross-Border Transactions, Particularly Within/Between Europe and Asia
Associated Drivers
IT Impact
Guidance
Prediction 9: By 2026, 15% of Countries Will Have Implemented a Verifiable Decentralized Credentialing System Using Non-Transferable Tokens Like Soulbound Tokens as the Primary Credentialing System for Citizens
Associated Drivers
IT Impact
Guidance
Prediction 10: By 2028, 25% of Consumer Data Gathered for Marketing Will Be Tied to a Decentralized Identity Token, Reducing Marketing and Advertising Costs While Improving Personalization
Associated Drivers
IT Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
AI Everywhere — Generative AI Takes the Spotlight
The Drive to Automate — Maximizing Efficiency and New Opportunities
Geopolitical Turbulence — Sovereignty Under Emerging Fragmentation
Cybersecurity and Risk — Building Resilience Against Multiplying Threats
The Digital Business Imperative — Competitiveness and Outcomes
Shifting Tech Regulatory Landscape — Navigating Risk and Opportunity
Operationalization of ESG — Measuring and Implementing Sustainability