Global Blockchain Benchmark Study


‘Blockchain’ and distributed ledger technology (DLT) are beginning to rewire our digital
infrastructure and challenge our thinking on how data, information, assets, and even
governance can be reorganised and reimagined. Substantial amounts of funding have been
invested in blockchain firms over a short span of time. The DLT ecosystem is thriving with
participation from both private and public sector actors. The potential use cases are ever
expanding, from payments to asset ownership, from insurance claims to intellectual property,
from applications in RegTech to integration with the Internet of Things (IoT).

However, technological breakthroughs often come with hype and hyperbole. In reality,
‘blockchain’ is still an often misconstrued and misunderstood concept. DLT as a whole is
still lacking maturity and, in many cases, remains undeployed and unadopted. Issues related
to scalability, privacy and confidentiality are slowing down technical advancement, whilst
regulatory uncertainties and legal risks are looming large. The DLT landscape is fluid, highly
fragmented, contested, and complex.

Therefore, more than ever, we need to examine ‘blockchain’ and the development of DLT
empirically, systematically and critically. This study, utilising data from over 200 companies,
central banks and public sector organisations, is a timely attempt to do just that. It aims to
delineate the layers of the DLT systems, understand prevailing business models and use cases,
reveal underlying architecture and governance, discuss technical obstacles and interoperability
issues, and shed a light on current public sector DLT initiatives, potential deployment schedules
and challenges. 

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