The Application of Blockchain in Southeast Asian Countries, Forecast to 2023

The Application of Blockchain in Southeast Asian Countries, Forecast to 2023

Blockchain Market is Projected to Grow at a CAGR of 81% Globally from 2018 to 2023

RELEASE DATE
19-Dec-2019
REGION
Asia Pacific
Research Code: PAB5-01-00-00-00
SKU: CI00668-AP-MR_23914
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Description

Blockchain, which is a decentralized digital database, supports participants when they confirm their transactions without the need for a central authority to approve/accept the transaction. Although this technology has been recognized mainly by digital currencies such as Bitcoin and other cryptocurrencies, it has several other applications in different aspects of life including in digital payments and e-wallets (which is supported by fintech; blockchain is one of the technologies used in fintech), agriculture, logistics, healthcare, real estate, cloud storage, education, public transportation, pharma, food and beverage, etc. Countries around the world including those in Southeast Asia are improving and updating their regulatory frameworks to provide a suitable and attractive environment for blockchain companies to keep pace with the fast-growing global blockchain market and reap the benefits of this technology.

The global blockchain market is growing very fast and it is forecast that its market size will reach US$23.3 billion by 2023, representing a CAGR of 81% over the period from 2018 to 2023. The global fintech market also showed a significant increase in 2018, reflecting greater application of blockchain in financial services around the world. It is also predicted that the global fintech market will grow faster and its future market value looks promising. In countries covered in this study (Malaysia, Singapore, Thailand, and Vietnam) the future fintech market is forecast to be optimistic and promising considering the transaction values in each country.

Countries in Southeast Asia are also trying to improve their regulatory environment to gain more benefits from different applications of blockchain technology.

Key Issues Addressed

  • Who are the main blockchain regulatory authorities in Malaysia, Singapore, Thailand, and Vietnam and which country has a better regulatory environment for investments in blockchain technology market?
  • Looking at digital currencies, how is the regulatory environment for digital currencies’ initial coin offerings (ICOs) in these countries?
  • What are the main blockchain projects currently running in Malaysia, Singapore, Thailand, and Vietnam?
  •  What are the main current applications of blockchain in each one of these countries?
  • What is the future market value of fintech in these countries (up to the year 2022)?
  • Which banks and companies are using the blockchain technology currently in these countries for their financial services?
  • So far, what have been the applications of blockchain technology in these countries?

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Key Findings

CEO’s Perspective

Market Definitions

Overview of Blockchain Application

What is Blockchain?

Blockchain Market Size

The Application of Blockchain

The Application of Blockchain—Cryptocurrencies

The Application of Blockchain—Cryptocurrencies (continued)

The Application of Blockchain—Cryptocurrencies (continued)

The Application of Blockchain—International Trade

The Application of Blockchain—Fintech

Malaysia’s Blockchain and Cryptocurrency Regulatory Authorities

Banks and Main Companies/Institutions Involved

Banks and Main Companies/Institutions Involved (continued)

Banks and Main Companies/Institutions Involved (continued)

Reporting Institutions Dealing With Digital Currencies

Reporting Institutions Dealing With Digital Currencies (continued)

Malaysia’s Main Blockchain Projects

Initial Coin Offering (ICO)

Initial Coin Offering (ICO) (continued)

Blockchain Application

Malaysia’s Fintech Market Value

Singapore’s Blockchain and Cryptocurrency Regulatory Authorities

Banks and Main Companies/Institutions Involved

Banks and Main Companies/Institutions Involved (continued)

Banks and Main Companies/Institutions Involved (continued)

Singapore’s Main Blockchain Projects

Singapore’s Main Blockchain Projects (continued)

Singapore’s Main Blockchain Projects (continued)

Initial Coin Offering (ICO)

Blockchain Application

Singapore’s Fintech Market Value

Thailand’s Blockchain and Cryptocurrency Regulatory Authorities

Banks and Main Companies/Institutions Involved

Banks and Main Companies/Institutions Involved (continued)

Banks and Main Companies/Institutions Involved (continued)

Thailand’s Main Blockchain Projects

Initial Coin Offering (ICO)

Blockchain Application

Thailand’s Fintech Market Value

Vietnam’s Blockchain and Cryptocurrency Regulatory Authorities

Banks and Main Companies/Institutions Involved

Banks and Main Companies/Institutions Involved (continued)

Banks and Main Companies/Institutions Involved (continued)

Vietnam’s Main Blockchain Projects

Initial Coin Offering (ICO)

Blockchain Application

Vietnam’s Fintech Market Value

The Future of Blockchain

Growth Opportunity 1—Geographical Expansion

Growth Opportunity 2—Investments in Fintech 

Strategic Imperatives for Success and Growth

Legal Disclaimer

Key Source Documents

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Blockchain, which is a decentralized digital database, supports participants when they confirm their transactions without the need for a central authority to approve/accept the transaction. Although this technology has been recognized mainly by digital currencies such as Bitcoin and other cryptocurrencies, it has several other applications in different aspects of life including in digital payments and e-wallets (which is supported by fintech; blockchain is one of the technologies used in fintech), agriculture, logistics, healthcare, real estate, cloud storage, education, public transportation, pharma, food and beverage, etc. Countries around the world including those in Southeast Asia are improving and updating their regulatory frameworks to provide a suitable and attractive environment for blockchain companies to keep pace with the fast-growing global blockchain market and reap the benefits of this technology. The global blockchain market is growing very fast and it is forecast that its market size will reach US$23.3 billion by 2023, representing a CAGR of 81Percentage over the period from 2018 to 2023. The global fintech market also showed a significant increase in 2018, reflecting greater application of blockchain in financial services around the world. It is also predicted that the global fintech market will grow faster and its future market value looks promising. In countries covered in this study (Malaysia, Singapore, Thailand, and Vietnam) the future fintech market is forecast to be optimistic and promising considering the transaction values in each country. Countries in Southeast Asia are also trying to improve their regulatory environment to gain more benefits from different applications of blockchain technology.--BEGIN PROMO--

Key Issues Addressed

  • Who are the main blockchain regulatory authorities in Malaysia, Singapore, Thailand, and Vietnam and which country has a better regulatory environment for investments in blockchain technology market?
  • Looking at digital currencies, how is the regulatory environment for digital currencies’ initial coin offerings (ICOs) in these countries?
  • What are the main blockchain projects currently running in Malaysia, Singapore, Thailand, and Vietnam?
  •  What are the main current applications of blockchain in each one of these countries?
  • What is the future market value of fintech in these countries (up to the year 2022)?
  • Which banks and companies are using the blockchain technology currently in these countries for their financial services?
  • So far, what have been the applications of blockchain technology in these countries?
More Information
No Index No
Podcast No
Author Fatemeh Dehdar
Industries Cross Industries
WIP Number PAB5-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9869-A2,9938-A2,9985-A2,9595,9B07-C1