New data suggests that spending on blockchain solutions by global enterprises could increase by more than 300% in the next two years compared to 2020. According to Statista, companies around the world have started using private blockchain for internal purposes such as record-keeping and intra-company transactions. The statistics also included those companies that use public blockchains such as Bitcoin for their payment processes.

Data from Statista’s research department has predicted that spending on blockchain solutions could reach nearly $19 billion by 2024.