Blockchain has become mainly known as the foundation of Bitcoin and other cryptocurrencies, but it is surpassing the boundaries of the financial market and crypto assets. Networks like Ethereum introduced the use of tokens and smart contracts for payments in physical stores, gas stations, and restaurants, signaling a broader and more everyday adoption of the technology.
A study by Grand View Research estimates that the blockchain market is expected to jump from $31.2 billion in 2024 to reach $1.4 trillion in 2030. This represents an annual increase of 90.1%. "Partly, this expansion is due to technological growth in other areas beyond finance due to the increasing demand for traceability and security," explains Cleverson Pereira, educational head of OnilX, a company that transforms digital assets into liquidity for payments and transactions.
"The decentralized and immutable registration system of the blockchain ensures the integrity and transparency of transactions, making it especially attractive for sectors such as finance, healthcare, and supply chain management. Companies in these segments are increasingly integrating blockchain-based solutions to enhance security and transparency in their operations," says the Grand View report in agreement with Pereira's stance.
Health, government, and traceability: the new horizons of blockchain
According to Pereira, the application of blockchain technology in areas such as health and public services is already a reality and should become increasingly widespread. These points reflect the evolution of hybrid and consortium blockchains – that is, those that can be shared among multiple entities, providing security and traceability to operations. But what does this mean in other sectors?
- Health:Allows secure sharing of medical records between institutions, reducing fraud and ensuring the integrity of patient data.
- Supply chain:Tracks the origin of products, ensures authenticity, and fights piracy. In this context, it can be broadly applied: from industry to agribusiness, especially to meet supplier requirements in foreign markets, emphasizes the educational head of OnilX.
- Copyrights:NFTs registered on the blockchain ensure fair compensation for artists and control of intellectual property in the digital environment.
- Governments:Countries like Dubai use blockchain for civil records and digital identification. "In practice, blockchain could be used even in elections, promoting transparency and security of the ballots," evaluates Pereira.
New American law: global framework for digital finance
The prospects for blockchain have recently expanded also into digital finance and cryptocurrencies, areas that led to the creation of the technology. The Genius Act signature establishes a regulatory framework for digital assets and stablecoins – cryptocurrencies pegged to the dollar – requiring backing by liquid and audited assets.
According to Pereira, the new legislation generates several benefits for the sector. "Among them, the encouragement to adopt stablecoins as a means of everyday payment, greater confidence from banks, retailers, and consumers in the technology, and the expansion of blockchain as an infrastructure for international payments. And, in practice, a better understanding and application of the technology make it a more frequent presence in other sectors with legal certainty," he says.
