Facebook’s plans to launch its own cryptocurrency and digital wallet should be a clarion call to commercial banks: if you don’t begin to explore blockchain technology, tech companies could eat your lunch.
Worldwide, blockchain-derived business value is forecast to grow from $9 billion this year to $50 billion in 2022, according to Gartner. The greatest growth between now and 2050 is expected to take place in 2020, when Facebook plans to launch its Libra coin and Calibra digital wallet; that year alone will see a 128% annual increase in business value.
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Source: Computer World