Blockchain technology continued its rapid evolution in 2021, marked by regulatory advancements and explosive growth in NFT, metaverse, and central bank digital currency (CBDC) sectors. This article explores seven pivotal trends shaping the global blockchain landscape.
(1) Global Perspective: Exponential Growth and Emerging Hotspots
1. National Blockchain Strategies and Diverging Crypto Policies
Countries increasingly adopted blockchain as a national strategic priority while displaying polarized approaches toward cryptocurrency regulation:
- China: Maintained strict bans on crypto transactions and mining activities while aggressively pursuing blockchain innovation
- United States: Lacks unified crypto classification (treated as securities, commodities, or property by different agencies)
- EU/Canada/Japan: Established clear crypto asset classifications with progressive policies
- El Salvador: Became the first country to adopt Bitcoin as legal tender (September 2021)
Key development initiatives:
- Germany's 2019 Blockchain Strategy
- Australia's 2020 Blockchain Roadmap
- Singapore's $12M blockchain innovation fund (2020)
2. Surging Blockchain Expenditure: Banking Leads Adoption
- 2021 global blockchain spending: $6.6 billion (Statista)
- Projected 2024 spending: $19 billion
- Banking sector: Primary adopter (36.4% of solutions)
- Retail/CPG: Fastest-growing sector (2021-2024)
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3. NFT, Crypto, and Metaverse Dominate Innovation
NFT Market:
- March 2021 surge: 1,785% growth (NFTGO)
- Total market cap: $10+ billion (Dec 2021)
- Challenges: Copyright issues, speculative trading
Cryptocurrency:
- BNB growth: 1,551.61% (2021)
- Institutional adoption: 28% of firms invested (Natixis)
- BITO ETF: Record $1B+ debut (Oct 2021)
Metaverse:
- Facebook rebranded as Meta (Oct 2021)
- Virtual platforms (Decentraland, Roblox) leveraging NFT technology
4. CBDC Development Accelerates Globally
- 87 countries (90% global GDP) exploring CBDCs
- Pioneers: Bahamas (Sand Dollar), Nigeria (e-Naira)
- 14 nations in pilot phase (including China, Korea)
(2) China Focus: Steady Progress with Digital Yuan
1. Blockchain Promotion vs. Crypto Crackdown
- 2019: Blockchain declared national priority
2021 policies:
- Banned crypto transactions (September notice)
- Eliminated mining operations (11-department joint action)
2. Enterprise Growth and Technology Maturation
- Registered blockchain firms: 93,600+ (Dec 2021)
- Density leaders: Guangdong (37.23%), coastal regions
- Gartner assessment: Transitioning to "Slope of Enlightenment" phase
3. Digital Yuan Milestones and Challenges
- Pilot expansion: 10+1 cities
Adoption stats:
- 620B yuan transaction volume
- 140M personal wallets
- 1.55M+ merchant acceptance
Key Challenges:
- Payment terminal infrastructure
- Risk management frameworks
- Regulatory clarity
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FAQ: Blockchain Industry 2021
Q1: Which country leads in blockchain adoption?
A: China maintains strong blockchain development despite crypto restrictions, while the US leads in enterprise adoption.
Q2: What drove NFT popularity in 2021?
A: Digital art collectibles and metaverse applications caused NFT trading volumes to surge 1,785% between Q1-Q2 2021.
Q3: How does China's digital yuan differ from cryptocurrencies?
A: As a CBDC, the digital yuan has centralized regulation and stable value, unlike decentralized, volatile cryptocurrencies.
Q4: What sectors invest most in blockchain?
A: Banking (36.4% of solutions), followed by telecom/media (29.8%) and retail (fastest-growing sector).