The growing use of blockchain across Asia-Pacific is set to continue, with spending on the technology slated to hit $2.4bn this year, according to industry estimates by IDC.
Most of the demand for blockchain technology will come from the financial sector, which will account for about half of total blockchain spending in the region.
Chainalysis, a blockchain data company, is riding on this trend by using its technology to help financial institutions as well as governments to prevent money laundering. More recently, it has started to develop other solutions to help companies and cryptocurrency businesses make the right investment decisions.
In an interview with Computer Weekly, Ulisse Dell’Orto, managing director for Asia-Pacific at Chainalysis, offers insights on key blockchain developments, including decentralised finance, non-fungible tokens (NFTs), the barriers to adoption and the use of blockchain technology in areas like supply chain management.