Forget the West — blockchain will have the biggest impact in emerging markets
The biggest potentially for blockchain technology is in developing markets not developed markets, according to specialist investment bank Exotix.
Paul Domjan, global head of research, analytics & data at Exotix, which specialises in emerging markets, compares blockchain technology to the smartphone and mobile boom of the last decade in a note sent to clients this week.
Smartphones brought about much greater change in developing markets than developed and allowed many countries to “leapfrog” fixed line telephones.
Domjan writes: “Today, frontier markets may be positioned to leapfrog developed economies once again, but this time the key technology is blockchain and cryptocurrencies.”
He sees the clearest applications in recording property ownership, contract enforcement, and storing or sending currency.
Photo courtesy of Christian Ditaputratama.