Prominent global institutions such as the World Economic Forum (WEF), Gartner, and McKinsey have all projected blockchain technology to be one of the most transformative innovations of the next decade. Much like the internet before it, blockchain is expected to play a foundational role in global commerce. Estimates suggest that more than 10% of global GDP will eventually be managed using blockchain systems. This signals a major shift in how international economic operations are structured.
As blockchain technology gains attention and its applications mature, countries including the United Kingdom, Singapore, China, and Australia have integrated it into their national digital economic strategies. These initiatives aim to strengthen each country’s position in the global digital economy and secure a leadership role in the upcoming era of digital transformation.
The blockchain industry ecosystem can be divided into five core segments: Computing Resources, Core Technology Development, Solution Providers, Application Services, and Supporting Services. Each plays a distinct role in advancing blockchain adoption and infrastructure.
Computing Resources
This segment includes suppliers that provide the essential hardware and software required to operate blockchain networks. Key players here are manufacturers of specialized computing chips, validation node services, and mining equipment providers.
Blockchain technology relies on a decentralized network of nodes that validate transactions and secure the ledger. This process demands significant computational power, leading to the emergence of companies that produce application-specific integrated circuits (ASICs). A well-known example is Bitmain.
Validation nodes, often referred to as mining pools or mining farms, offer processing power to the network. A notable representative of this category is the publicly-listed company Marathon Digital. Mining hardware manufacturers, such as Bitmain, supply the physical equipment required for these operations.
Core Technology Development
This layer consists of organizations that develop the underlying blockchain protocols, platforms, and essential tools. These are typically tech companies with deep expertise in cryptography, distributed systems, and consensus mechanisms.
Prominent examples include Ripple and R3, which offer enterprise-grade blockchain solutions. Other key contributors are technology giants like IBM and specialized firms such as ConsenSys, which provide development frameworks and middleware for building decentralized applications.
Solution Providers
Solution Providers focus on delivering implementation services to organizations adopting blockchain. This group includes Blockchain-as-a-Service (BaaS) vendors, system integrators, and industry-specific solution developers.
Major cloud providers—including Microsoft Azure, Google Cloud Platform (GCP), and Amazon Web Services (AWS)—now offer BaaS products, allowing businesses to deploy blockchain networks without managing underlying infrastructure. Companies like IBM also deliver tailored domain-specific solutions across sectors such as supply chain, healthcare, and finance.
Application Services
Application Service providers build business models that directly leverage blockchain technology. This segment encompasses cryptocurrency exchanges, wallet and asset management services, and various commercial applications.
Leading crypto exchanges like Coinbase and Kraken facilitate the trading of digital assets. Wallet providers such as MetaMask offer software for storing and managing cryptographic keys and tokens. Beyond finance, blockchain is being applied in fields including logistics, retail, identity verification, and intellectual property management.
Supporting Services
The Supporting Services segment includes all ancillary services that enable the growth and stability of the blockchain industry. This covers venture capital, consulting, media, security auditing, and legal compliance.
Examples include Coinbase Ventures, the investment arm of the Coinbase exchange; media and intelligence companies like CoinDesk; and cybersecurity auditors such as OpenZeppelin, which reviews smart contracts and protocol security.
Current Industry Trends and Data
According to a Gartner survey, more than 36% of enterprise blockchain initiatives are within the financial services sector. Other leading industries adopting the technology include manufacturing, insurance, information technology, trade, and healthcare.
A Deloitte global blockchain survey revealed that over 55% of senior executives consider blockchain development a top strategic priority. Moreover, 39% of respondents reported that their companies have already integrated blockchain into their operational processes. This indicates a shift from experimental projects to real-world implementation.
Market research firm MarketsandMarkets estimates the global blockchain market was valued at $20.1 billion in 2024. It is projected to grow to $248.9 billion by 2029, representing a compound annual growth rate (CAGR) of 65.5%.
In the broader Web3 domain—a ecosystem closely related to blockchain—Acumen Research & Consulting anticipates the market will surpass $80 billion by 2032, with a CAGR of 44.5%. The Asia-Pacific region is expected to see the fastest adoption.
Investment trends also reflect this momentum. Despite a market slowdown in 2023, blockchain companies still secured $10.7 billion in funding. The most funded sectors included decentralized finance (DeFi), Web3 infrastructure, and core protocol development.
Future growth is likely to be driven by the continued expansion of Web3—which emphasizes verifiability, trustlessness, autonomy, and decentralization—and the tokenization of real-world assets (RWA). Major financial institutions like BlackRock, JPMorgan, and Citigroup are actively exploring RWA applications.
In Taiwan, the Financial Supervisory Commission has formed an RWA tokenization working group involving major financial players such as TDCC, Taishin Bank, Taipei Fubon Bank, CTBC Bank, Cathay Securities, Cathay Securities Investment Trust, and Yuanta Financial Holding. The group is studying the tokenization of bonds and funds to keep pace with global developments.
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Frequently Asked Questions
What is the basic structure of the blockchain industry?
The industry is commonly divided into five layers: Computing Resources, Core Technology Development, Solution Providers, Application Services, and Supporting Services. Each segment supports different aspects of blockchain development and deployment.
Which industries are adopting blockchain most rapidly?
Finance leads in adoption, followed by manufacturing, insurance, IT, trade, and healthcare. Many companies are moving beyond pilot programs to full-scale implementation.
What is Real-World Asset (RWA) tokenization?
RWA tokenization refers to the process of representing physical assets—like real estate, art, or financial instruments—as digital tokens on a blockchain. This enhances liquidity, enables fractional ownership, and reduces transaction costs.
How is Web3 different from blockchain?
Blockchain is the underlying technology that enables decentralization and security. Web3 is a broader vision of a decentralized internet built on blockchain where users control their own data, identity, and assets.
What role do supporting services play in the blockchain ecosystem?
These services provide essential infrastructure not directly related to technology development, including funding, regulatory guidance, security audits, market analysis, and public education.
Is blockchain adoption growing globally?
Yes, numerous reports indicate rapid growth in both market size and adoption rates across regions, with significant investment flowing into infrastructure and decentralized applications.