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Blockchain - UK - June 2019

Covered in this report

Blockchain is a digital ledger that provides a secure and public way of making and recording transactions, agreements and contracts; its best-known use is Bitcoin, a virtual currency. The database is shared across a network of computers and becomes a long list of chronological transactions that have taken place since the beginning of the network.

Blockchain is a transformational technology. For all its complexity, blockchain’s potential as a decentralised form of record-keeping is almost without limit. From greater user privacy and heightened security, to lower processing fees and fewer errors, blockchain technology has the potential for a myriad of applications. A key area is technology for enterprises that require trust-less transactions and secure record keeping. Enterprises can track transactions with greater confidence and security, and blockchain adoption - completely distinct from crypto currency hype or doom projections - is steadily gaining in enterprise environments.

“Blockchain may originate from spurious uses, and the future of crypto currencies remains debatable (though don’t rule it out), but the potential wider commercial opportunities and applications of blockchain are vast and transformative. Moreover, its use is not limited to business but extends to major public sector applications. Some within the blockchain sector even claim the technology will make inroads into poverty and income discrepancy on a world-wide scale. It is potentially the most transformational development since the internet, and could stimulate a new economic era.”
– Terry Leggett, Senior Analyst

This report looks at the following areas:

  • Blockchain has many potential benefits
  • Is blockchain the solution for the unbanked in the UK?

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
      • Executive Summary

          • The market
            • From inauspicious beginnings
              • Figure 1: Worldwide geographic segmentation of blockchain, 2017
            • The role of cyber currencies declining
              • Figure 2: Segmentation of world blockchain income, by sector, 2018
            • Commercial applications in their infancy
              • Figure 3: Progress in adopting blockchain, by sector, 2018
            • Operational efficiency to drive early use
              • Figure 4: The impact of blockchain by industry and benefit
            • Banking, finance and insurance to lead growth
              • Figure 5: Forecast world development of blockchain, by major application, 2019-2024
            • Companies and brands
              • The global industry
                • Figure 6: Estimated world blockchain market shares, by revenue 2017
              • The UK sector
                • Figure 7: Segmentation of UK companies in the blockchain sector, 2018
              • What we think
              • Issues and Insights

                • Blockchain has many potential benefits
                  • The facts
                    • The implications
                      • Is blockchain the solution for the unbanked in the UK?
                        • The facts
                          • The implications
                          • The Market – What You Need to Know

                            • So much more than crypto currencies
                              • Huge growth expected
                                • Blockchain-as-a-service
                                • Market Size

                                  • The lull before the storm
                                    • Figure 8: Progress in adopting blockchain, by sector, 2018
                                  • Regional differences and the role of the UK
                                    • Figure 9: Worldwide geographic segmentation of blockchain, 2017
                                • Market Segmentation

                                  • Not all about cyber currencies
                                    • Figure 10: Segmentation of world blockchain income, by sector, 2017 (%)
                                    • Figure 11: Segmentation of world blockchain income, by sector, 2018 (%)
                                  • Banking, finance and insurance
                                    • Figure 12: Projected world market for blockchain in banking, finance and insurance, 2019/24
                                  • Banking
                                    • Exchanges
                                      • Stock trading
                                        • Credit rating
                                          • Crowd funding
                                            • Healthcare
                                              • Figure 13: Projected world market for blockchain in healthcare, 2019/24
                                            • Cyber currency
                                              • Figure 14: Projected world market for blockchain in cyber currency, 2019/24
                                            • Supply chain
                                              • Figure 15: Projected world market for blockchain in supply chain, 2019/24
                                            • General
                                              • Internet of things
                                                • Figure 16: Projected world market for blockchain in internet of things, 2019/24
                                            • Market Segmentation – Other Emerging Areas

                                                • 3D printing
                                                  • Agriculture
                                                    • Air travel
                                                      • Charities
                                                        • The cloud
                                                          • Education
                                                            • Elections
                                                              • Energy management
                                                                • Entertainment rights
                                                                  • Fishing
                                                                    • Gambling
                                                                      • Gaming
                                                                        • HR
                                                                          • Internet advertising
                                                                            • Internet identity
                                                                              • Internet security
                                                                                • Law enforcement
                                                                                  • Legal sector
                                                                                    • Logistics
                                                                                      • Loyalty schemes
                                                                                        • Messaging apps
                                                                                          • Public sector
                                                                                            • Publishing
                                                                                              • Real estate
                                                                                                • Royalties
                                                                                                  • Taxi sharing apps
                                                                                                    • Vehicle registration
                                                                                                      • Videos
                                                                                                        • Welfare payments
                                                                                                          • Wills
                                                                                                          • Market Forecast

                                                                                                            • Huge global growth
                                                                                                              • Figure 17: Projected world market for blockchain, 2019/24
                                                                                                          • The Impact of the Economy

                                                                                                            • GDP
                                                                                                              • Figure 18: Quarterly GDP development, Q1 2015-Q1 2019
                                                                                                              • Figure 19: GDP quarterly development, by sector, 2004-19
                                                                                                              • Figure 20: Forecast GDP development, 2019-2023
                                                                                                          • Market Trends

                                                                                                              • Figure 21: The impact of blockchain by industry and benefit
                                                                                                            • Feasibility dependent on various issues
                                                                                                              • Figure 22: Blockchain feasibility by type of asset, technology maturity, standards and regulations and ecosystem, by industry
                                                                                                              • Figure 23: Proportions believing blockchain is about financial services and financial transactions only, by industry, 2018
                                                                                                          • Market Drivers

                                                                                                            • The internet
                                                                                                              • Figure 24: Growth in worldwide internet usage, by region, 2000-2019
                                                                                                              • Figure 25: Proportion of businesses with internet access, by size of company, 2017
                                                                                                            • 5G
                                                                                                              • The internet of things
                                                                                                                • Figure 26: Worldwide connected devices installed, 2015-17 actual and 2018-25 forecast
                                                                                                                • Figure 27: Total Worldwide number of connected devices, 2015-18 actual and 2019-25 forecast
                                                                                                              • AI
                                                                                                                • E-commerce
                                                                                                                  • Figure 28: Total growth of e-commerce sales, 2014-18
                                                                                                                  • Figure 29: Forecast total e-commerce market, 2019-23
                                                                                                                • Bitcoin, other crypto currencies and stable coins
                                                                                                                    • Figure 30: Closing prices of Bitcoin, October 2013 to May 2019
                                                                                                                • Companies and Brands – What You Need to Know

                                                                                                                  • An international market
                                                                                                                    • Huge venture capital growth in 2018
                                                                                                                      • The UK industry is also growing
                                                                                                                        • Some government encouragement
                                                                                                                        • Industry Structure

                                                                                                                          • Venture capital investment
                                                                                                                            • Figure 31: Global venture capital investment in blockchain companies, 2013-18
                                                                                                                          • The international industry
                                                                                                                            • Figure 32: Estimated world blockchain market shares, by revenue 2017
                                                                                                                          • The UK sector
                                                                                                                            • Figure 33: Structure of the UK blockchain sector, 2018 (number)
                                                                                                                            • Figure 34: Segmentation of UK companies in the blockchain sector, 2018
                                                                                                                        • Company Profiles

                                                                                                                          • Blockchain Inc
                                                                                                                            • Activity
                                                                                                                              • Performance
                                                                                                                                • Strategy
                                                                                                                                  • Circle UK Trading
                                                                                                                                    • Activity
                                                                                                                                      • Performance
                                                                                                                                        • Strategy
                                                                                                                                          • Earthport
                                                                                                                                            • Activity
                                                                                                                                              • Performance
                                                                                                                                                • Strategy
                                                                                                                                                  • Electroneum
                                                                                                                                                    • Activity
                                                                                                                                                      • Strategy
                                                                                                                                                        • eToro
                                                                                                                                                          • Activity
                                                                                                                                                            • Performance
                                                                                                                                                              • Strategy
                                                                                                                                                                • Everledger
                                                                                                                                                                  • Activity
                                                                                                                                                                    • Performance
                                                                                                                                                                      • Strategy
                                                                                                                                                                        • GMEX Group
                                                                                                                                                                          • Activity
                                                                                                                                                                            • Performance
                                                                                                                                                                              • Strategy
                                                                                                                                                                                • IOTA
                                                                                                                                                                                  • Activity
                                                                                                                                                                                    • Strategy
                                                                                                                                                                                      • Medicalchain
                                                                                                                                                                                        • Activity
                                                                                                                                                                                          • Strategy
                                                                                                                                                                                            • R3
                                                                                                                                                                                              • Activity
                                                                                                                                                                                                • Strategy
                                                                                                                                                                                                • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                                                                                    • Abbreviations
                                                                                                                                                                                                      • Methodology

                                                                                                                                                                                                      Blockchain - UK - June 2019

                                                                                                                                                                                                      £995.00 (Excl.Tax)