The research report discusses the potential for blockchain adoption in various markets. It introduces the Blockchain Attractiveness Index (BAI), a tool that measures the potential for blockchain adoption based on three indicators: trust deficit, latent wealth, and scope to operate. The report suggests that blockchain technology can be particularly beneficial in markets where there is a significant trust deficit, latent wealth, and a conducive environment for business. It also highlights that the adoption of blockchain technology is not only dependent on the technology itself but also on the socio-economic and political conditions of the market.
- Trust Deficit: Markets with a significant trust deficit, where traditional systems have failed to maintain public confidence, are more likely to adopt blockchain technology.
- Latent Wealth: Markets with latent wealth, where there is a demand for financial services that is not being met by the existing systems, present a significant opportunity for blockchain adoption.
- Scope to Operate: The ease of doing business in a market also impacts the potential for blockchain adoption. Markets with fewer business hurdles are more likely to adopt blockchain technology.
- Local Conditions: The adoption of blockchain technology is also influenced by local conditions such as political and regulatory factors. Understanding these factors is crucial for predicting future adoption.