The US is expected to increase its Blockchain spendings by 280%
The United States is expected to increase its expenditures on blockchain technology from $1.1 billion in 2019 to $4.2 billion in 2022.
For comparison, Western Europe will increase its blockchain spendings from $1.25 billion in 2019 to $2.9 billion in 2022, boosting its investments by 131% in the following years.
The Asia Pacific region (except China and Japan) will invest $1.08 billion more in blockchain technology from 2019 to 2022, representing growth of 150%.
Meanwhile, the Middle East and Africa will spend $0.5 billion on the blockchain market, jumping from $0.25 billion this year, a 100% increase in just a few years.
China is expected to grow its investments in blockchain solutions by 133% from 2019 to 2022, representing a move from $0.5 billion to $1.4 billion in just three years.
Other regions would increase their blockchain investments from $0.45 billion to $1.9 billion, a massive 322% increase.
The US and China are two of the most powerful economies in the world. According to the statistics, China will have to increase its blockchain spending by 200% by 2022 if it wants to reach the same level of investments as the US.
SEE ALSO: Blockchain market revenue to exceed $16 billion by 2024