CompTIA, one of the world’s leading technology association has published a new guidebook about blockchain applications, adoption, and recommendations for the public sector. The 31-page guidebook titled “Harnessing The Blockchain Revolution“ would act as a valuable resource for public sector officials to explore, understand and implement blockchain-related endeavors for the society.
The publication also outlines the technology behind blockchain and also its numerous benefits, uses, and applications in the public domain. Other relevant information included in the guidebook includes key policy recommendations for improving public sector adoption, fostering innovation and development of blockchain technologies and bringing government policies in-line with the current technology disposition.
The new guidebook provides important analytical data for industry players with strong plans for driving the blockchain revolution. The report explains that blockchain technology is perhaps one of the most talked about sector in emerging technology in the world today and yet still the most misunderstood, since its inception, the guidebook explains “the secure, distributed ledger technology has widely been viewed through the lens of virtual currencies, particularly the hype surrounding the buying and trading of Bitcoin and other digital coin offerings. Indeed, surveys have shown that consumers are largely aware of what Bitcoin is, but do not know or understand about the blockchain technology that powers it.”
CompTIA’s Blockchain Statistics, and Recommendations
As regards the adoption of blockchain-related technology, the guidebook mentioned that in a global survey conducted, about “74 percent of corporate executives around the world see a “compelling business case” for blockchain technology, with 34 percent of surveyed companies already working on blockchain technology and 41 percent expecting to develop blockchain applications within the next year.”
CompTIA predicts that with the steady growth in blockchain’s security, ease of use, multi-system data consolidation, and end-to-end visibility, the sector will grow to a $176 billion industry by 2025 and more than $3 trillion by 2030.
To effectively harness this huge potential, CompTIA recommends that Congress need to create a working group of federal stakeholders to provide recommendations on how to plan and encourage growth. Furthermore, to help mitigate the risks and drive economic development.