Blockchain is primarily known for being the foundation of Bitcoin and other cryptocurrencies, but it is expanding beyond the financial and crypto asset markets. Networks like Ethereum have introduced the use of tokens and smart contracts for payments in physical stores, gas stations, and restaurants, signaling broader, everyday adoption of the technology.
A study by consulting firm Grand View Research estimates that the blockchain market is expected to jump from $31.2 billion in 2024 to $1.4 trillion in 2030. This represents an annual increase of 90.1%. “This expansion is partly due to the growth of the technology in areas beyond finance due to the increasing demand for traceability and security,” explains Cleverson Pereira, head of education at OnilX, a company that transforms digital assets into liquidity for payments and transactions.
“Blockchain’s decentralized and immutable ledger system ensures the integrity and transparency of transactions, making it especially attractive for sectors such as finance, healthcare, and supply chain management. Companies in these sectors are increasingly integrating blockchain-based solutions to increase security and transparency in their operations,” says the Grand View report, echoing Pereira’s position.
Health, government, and traceability: the new horizons of blockchain
According to Pereira, the application of blockchain technology in areas such as healthcare and public services is already a reality and is expected to become increasingly widespread. These points reflect the evolution of so-called hybrid and consortium blockchains—i.e., blockchains that can be shared among multiple entities, providing security and traceability to operations. But what does this mean for other sectors?
– Health: allows the secure sharing of medical records between institutions, reducing fraud and ensuring the integrity of patient data.
– Supply chain: It tracks the origin of products, ensures authenticity, and combats piracy. “In this context, it can be applied broadly: from industry to agribusiness, especially to meet supplier requirements in foreign markets,” emphasizes OnilX’s head of education.
– Copyright: NFTs registered on the blockchain guarantee fair compensation for artists and control over intellectual property in the digital environment.
– Governments: Countries like Dubai use blockchain for civil registration and digital identification. “In practice, blockchain could even be used in elections, promoting transparency and security,” Pereira says.
New US law: a global framework for digital finance
Blockchain’s prospects have recently expanded in digital finance and cryptoassets, areas that led to the creation of the technology. The signing of the Genius Act establishes a regulatory framework for digital assets and stablecoins—cryptocurrencies pegged to the dollar—requiring them to be backed by liquid and audited assets.
According to Pereira, the new legislation generates several benefits for the sector. “Among them, it encourages the adoption of stablecoins as an everyday payment method, increases confidence in the technology among banks, retailers, and consumers, and expands blockchain as an international payments infrastructure. And, in practice, the greater understanding and application of the technology means it becomes a more prevalent presence in other sectors, with legal certainty,” he says.
