Global Blockchain and Cryptocurrency Market 2021 code:1521

Global Blockchain and Cryptocurrency Market 2021
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Africa, Argentina, Bahrain, Brazil, Canada, China, Colombia, France, Germany, Italy, Kuwait, Mexico, Middle East, Oman, Russia, Saudi Arabia, Sweden, Turkey, UAE, UK, USA, Ukraine, Venezuela, Vietnam
Pages: 84
Publication Date: 24/03/2021
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Questions Covered in the report:
  • What will be the share of blockchain-based Solutions in percentage of Total Global GDP by 2030?
  • What are the top 10 cryptocurrency ATM operators globally in 2021?
  • What was the share of businesses who implemented blockchain technology into production amid COVID-19?
  • Which countries topped the ranking of cryptocurrency adoption during the pandemic?
  • Which actions did various banks take to step into the cryptocurrency market in 2020?

Key Findings:

Cryptocurrency is gaining momentum amid COVID-19, with developing countries setting the trend: new yStats.com report

Cryptocurrency and blockchain-enabled solutions are to accelerate by 2030

Even before the onset of the pandemic and especially during it, blockchain-technology was and is seen by many as “the new reality”: private sector companies change their business models to incorporate cryptocurrencies, banks introduce new crypto-offerings, governments become more and more open to the technology, and consumers increasingly invest in cryptocurrencies. According to the new yStats.com report, blockchain-based technologies are expected to represent a significant share of the global GDP by 2030, elevating it by close to USD 2 trillion. Similar to the way cryptocurrencies are presently used, much of this growth is to come from provenance, payments, and digital identity, but by 2030 the magnitudes are forecasted to be remarkably higher.

Private sector and banks have high hopes regarding cryptocurrency and its future development

In many countries worldwide, businesses have increased their trust in cryptocurrencies, so that globally, the share of enterprises that put blockchain technologies into production increased by 16 percentage points in March 2020, compared to the same period a year before. Furthermore, on average, eight in ten enterprise representatives agree that in the next five to ten years digital assets will become a strong alternative to fiat currencies, despite some risks stemming from cryptocurrency volatility. Additionally, banks are keeping an eye on the blockchain technology. The year 2020 saw major banks stepping into the market. Moreover, central banks of Europe, China, and others are experimenting with blockchain technologies, despite some lingering concerns. Nevertheless, according to the new publication by yStats.com, businesses and financial institutions are finding solutions that may help to mitigate the risks.

Major online retail and payments players see opportunities in blockchain for their businesses

Enjoying the first-mover advantage on the US cryptocurrency market, Square has seen its revenues from Blockchain increase by three-digit percentages during 2020, despite the net profits still not being as high. At the same time, in 2021, PayPal stated its intention to expand cryptocurrency capabilities, Walmart is eyeing creation of a complete blockchain-based ecosystem, and Amazon and Apple announced plans to launch their digital currency projects. Furthermore, Visa and Mastercard are keeping up by expanding their offerings which are to include cryptocurrencies in some form. Overall, the incumbents are actively opting for the blockchain-backed currencies, however, the yStats.com publication cites forecasts of the introduction of several newcomers in the field, also.

Developing countries are setting the tone for future work with cryptocurrencies

Africa offers many opportunities for the investors interested in blockchain technology. The region still lacks an appropriate infrastructure, but as the population is used to alternative means of payments due to the popularity of mobile money, remittances flows are high, and local currencies are sometimes unstable, there is a chance for Africa to be a trendsetter in the cryptocurrency arena in the future. On the other hand, the Middle East  is only slowly making steps forward in terms of cryptocurrency adoption, as in many countries in the region this activity is forbidden by regulators. Nevertheless, the UAE and Bahrain stand out and are open to the new technology. Meanwhile, according to a report cited by yStats.com, in Asia, China is a clear leader in cryptocurrency adoption, however, Vietnam, India, Thailand, Pakistan, and among others, are in the top 20 countries by cryptocurrency adoption.

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1.Management Summary

2.Global Overview

  • Total Market Capitalization Of All Cryptocurrencies, in USD billion, January 2020 & December 2020
  • Number of blockchain Wallet Users, in millions, and Year-on-Year Change, in %, 2016 – 2020
  • Net Additional Value of blockchain Technology to Global GDP, in USD billion, 2021f & 2025f & 2030f, and Share of blockchain-Based Solutions, in % of Total Global GDP, 2030f
  • Net Additional Value of blockchain Technology to Global GDP, by Source of Contribution, in USD billion, 2021f & 2025f & 2030f
  • Breakdown of Supposed Purposes Cryptocurrencies are Mainly Used for, by Respondents Occupational Status, incl. Financial Institutions, Cryptocurrency Industry, Government, and Private Sector, July 2020
  • Breakdown of Respondents Attitude towards Cryptocurrency as an Effective Tool for Financial Inclusion in 5 Years, by Respondents Occupational Status, July 2020
  • Breakdown of Cryptocurrency ATM Shares, by Manufacturer, March 2021
  • Top 10 Cryptocurrency ATM Operators, by Number of Machines Run, and Their Share, in % of Total ATMs, March 2021
  • Breakdown of Countries‘ Shares on the P2P Bitcoin Marketplace LocalBicoins, incl. incl. Colombia, Nigeria, Russia, Venezuela, and the UK, in %, December 2020
  • Cryptocurrency Adoption Index, by Country, June 2020
  • Market Shares of Top Cryptocurrencies, in %, December, 2020
  • Top Five Cryptocurrencies Stored, Based on Net Number of Token Holders on Binance, and Top Five Longest Held Cryptocurrencies, Based on Average Holding Time on Binance, December 2020
  • 30-Day Average Value of Trading Volume on Major Bitcoin Exchanges, in USD million, January 2020 – February 2021
  • Breakdown of Cryptocurrencies, inlc. Altcoins, BTC, and Stablecoins, by Region, in % of All Regional Cryptocurrency Transactions, June 2020
  • Share of Businesses Who Implemented blockchain Technology into Production, in %, March 2019 & March 2020
  • Breakdown of Businesses Who Strongly or Somewhat Agree that Digital Assets Will be an Alternative for Fiat Currencies in the Next 5 – 10 Years, by Selected Countries, in %,  March 2020
  • Top Concerns for an Organization to Hold Bitcoin, in % of Financial Executives, February 2021
  • Overview of Square’s and PayPal’s Activity on the Cryptocurrency Market, March 2021
  • Square’s Total Segment Revenue, and Bitcoin Revenue, in USD million, 2019 & 2020
  • Overview of Amazon’s, Apple’s, Facebook’s, and Walmart’s Activity on the Cryptocurrency Market, March 2021
  • Overview of Visa’s and Mastercard’s Activity on the Cryptocurrency Market, March 2021

3.Banks Activity and Trends

  • Overview of the Banks’ Activity on the Cryptocurrency Market and Trends, March 2021
  • Overview of the Select Central Banks’ Activity on the Cryptocurrency Market, 2014 – 2020
  • Share of Banks that Incorporated blockchain Technology in Some Form, in % of Banks Covered by the Bank of America, February 2021
  • Breakdown of Banks’ Top Use Cases of blockchain, in %, 2019

4.North America

  • Cryptocurrency Adoption Rate, and Global Average Cryptocurrency Adoption Rate, in % of Population, December 2020
  • Cryptocurrency Adoption Rate, in %, February 2020
  • Breakdown of Consumers’ Attitude Towards Strengthening Cryptocurrency Regulation, in % of Consumers, November 2020
  • Breakdown of Consumers’ Attitude to Use Bitcoin if PayPal and Venmo Accepted It, in % of Consumers, November 2020
  • Cryptocurrency Market Regulations Overview and Trends, March 2021
  • Breakdown of Cryptocurrency ATM Shares, by Manufacturer, in %, March 2021

5.Latin America

  • Breakdown of Respondents Interest Change into Cryptocurrency Resulted by COVID-19, by Country, incl. Argentina, Brazil, Colombia, and Mexico, in %, December 2020
  • Breakdown of Reasons for Cryptocurrency Adoption, by Country incl. Argentina, Brazil, Colombia, and Mexico, in %, December 2020
  • Cryptocurrency Adoption Rate, in % of Respondents, Q2 2020

6.Europe

  • Cryptocurrency Adoption Rates, by Age Groups, and by Country, incl. France, Germany, and Italy in % of Respondents, January 2020
  • Breakdown of Cryptocurrency ATM Shares, by Manufacturer, in %, March 2021
  • Cryptocurrency Adoption Rates, by Age Groups, in % of Current and Previous Cryptocurrency Owners, December 2018 & December 2019
  • Top Five Reasons for Buying Cryptocurrencies, in % of Current and Previous Cryptocurrency Owners, December 2019
  • Use of Cryptocurrencies, in % of Current and Previous Cryptocurrency Owners, December 2019
  • Share of Respondents Who Expect Cryptocurrency to Substitute Fiat Currency in the Future, in % of Respondents, September 2020
  • Breakdown of Attitude Towards Self-Management of Cryptocurrency Assets, in % of Respondents, September 2020
  • Share of Businesses Who are Active in blockchain, in % of Businesses, and Breakdown of Activities Where blockchain Technology is Utilized, in % of Businesses Using blockchain, March 2020
  • Cryptocurrency Adoption Rate, in % of Respondents, Q1 2020

7.Asia

  • Overview Of Cryptocurrency Markets and Trends, March 2020
  • Share of Region’s Cryptocurrency Market Value, in %, January 2021
  • Cryptocurrency Adoption Rate in Select Countries, incl. China, Japan, Philippines, and Vietnam, in % of Respondents, 2020

8.Middle East

  • Overview of Cryptocurrency Markets and Trends, March 2021
  • Cryptocurrencies Value Sent and Received, in USD billion, and Shares of Cryptocurrencies Value Sent and Received, in %, by Region, July 2019 – June 2020
  • Estimated Share of Cryptocurrencies, in % of Government’s Transactions, 2021e

9.Africa

  • Share of Cryptocurrency Transactions, in % of Total Value Sent and Received, and Share of Cryptocurrency Transactions Value Received, by Origin, incl. In-Region and Out-of-Region, in %, July 2020
  • Cryptocurrency Market Overview and Trends, March 2021
  • Cryptocurrency Adoption Rate, in % of Respondents, Q2 2020
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  • Amazon
  • Anchorage
  • Apple
  • B2C2
  • BitAccess
  • BitPay
  • Bitcoin
  • Bitcoin Depot
  • Bitcoin of America
  • Bitstop
  • Cash App
  • CoinCloud
  • CoinSource
  • Coinflip
  • ConsenSys
  • DigitalMint
  • Ether
  • Facebook
  • General Bytes
  • Genesis Coin
  • Lamassu
  • LightingXchange
  • LocalCoin
  • MasterCard
  • National Bitcoin ATM
  • Paxos
  • PayPal
  • Ribbit Capital
  • Riksbank
  • Ripple
  • RockitCoin
  • SBI Group
  • Square
  • Venmo
  • Visa
  • Walmart
Read More

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