Amyn Gillani, Chief Executive Officer of Talos Digital, believes the Asia-Pacific region has great potential to lead the adoption of blockchain technologies.

In an article he wrote for Entrepreneur Asia Pacific, Gillani said that although blockchain technology is still in its infancy, it has reached the “early majority” phase as it begins to gain traction and spread exponentially, despite the fact that the world is still years away from full adoption.

Gillani expects blockchain technology to change the world in a profound fashion over the next decade, as the consumer market size is forecast to top $16 billion by 2024.

Citing findings from a recent Global Market Insights report, the Talos Digital CEO said, “With the region’s blockchain market set to grow by an estimated 87 percent over the next six years, blockchain innovation is surging forward in the region.”

Gillani argued that the size of the Asia-Pacific consumer market is one of the main reasons blockchain will boom over the period. Asia’s middle class is projected to reach 3.5 billion by 2030 and is extremely enthusiastic about embracing new technologies.

According to Gillani, “The region’s enthusiasm for cutting-edge tech can be attributed to its uniquely young, tech-curious population. Sixty percent of the world’s youth is concentrated in Asia-Pacific”.

He noted that more than half of cryptocurrency trading occurs on Asia-based exchanges, with Japan’s exchanges accounting for half of Bitcoin’s daily trade volume.

“In South Korea more than a third of salaried workers are investors in digital currencies. And even in China, where regulations on cryptocurrencies are stringent, excitement over cryptos has led to more patents for cryptocurrencies and blockchain than anywhere else.”

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.