Over the past 5 years, interest in Blockchain as a Google search term has skyrocketed in China.Dubai is aiming to become the first blockchain-powered city by 2020.Strong Interest in Middle East & China:.Proof of Concept & Adoption: 90% of corporate blockchain experiments won’t make it into corporate use.have grabbed 57% of the more than $700 million market for blockchain products and services Companies to Watch: IBM and Microsoft Corp.Growing Industry Interest: Nearly 10% of CRE executives “don’t really understand blockchain and what it does,” while 37% of executives expect blockchain to start having an impact on the CRE industry within the next two years.Is this the year it finally becomes ‘normal’? Consider the data: An easy way to think of it is a decentralized digital ledger that improves data transparency and transaction history.Īlthough people have been slow to adopt blockchain, it’s thought to be a growing force in the world and across sectors. To help catch you up, here’s a video that provides a simple explanation on how blockchain technology works. Blockchain has had a slow adoption rate and only recently has begun to move beyond the volatile cryptocurrency market into more mainstream functions.Ī survey by HSBC found that 59% of consumers polled said they’d never heard of blockchain technology and 80% of consumers who’ve heard of blockchain don’t know what it does. So, if you’re still wondering what blockchain technology is – don’t be alarmed, you’re not alone. Blockchain entered the tech world in 2008, about the same time that Airbnb was created. Invest too early in an immature technology and it could fail, arrive too late to the game and the competition could be miles ahead. We are in a technological revolution with advancements occurring at an exponential rate, and companies are carefully balancing risk and reward. Because, when it comes to technology, the last one to adopt loses. Designers are beginning to grasp how blockchain technology is impacting their work and driving conversations with clients, so that they can successfully guide clients through this period of rapid technological innovation. However, blockchain technology’s enormous potential on businesses and consumers has not been fully realized as this technology is still evolving. Blockchain technology has evolved from a protected digital ledger for the financial services industry to now being utilized by industries such as real estate and design.

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