Beyond the Hype: Life Cycle Analysis of 31 Blockchain Application Fields

While blockchain technology continues to extend and expand to various industries, its application hotspots are also undergoing rapid, even unimaginable changes. We need to conduct a more detailed and forward-looking analysis of seemingly complex blockchain application scenarios in order to discover patterns, surpass hype, and implement sensitive and robust action strategies.

Based on the latest changes in the blockchain application market, Capital Lab produced a "Blockchain Application Market Life Cycle" model in the "2022 Global Blockchain Application Market Report" to intuitively reflect the maturity of each application market, and The market opportunities and possible risks contained in it. The model extracts 31 representative subdivided application fields from more than 120 application scenarios, which are distributed in three stages: introduction period, growth period and maturity period.

1. Introduction period

From the current point of view, a total of 6 fields are in the introduction period of the blockchain application market, namely: extensive token applications (Metaverse), quantum Internet, extensive digital assets, distributed computing/storage, Internet of Things, and networks and communication security. In these areas, the relevant technology and application ecology has not yet been established, but there are long-term potential opportunities.

Among them, a wide range of token applications will be distributed in social governance, economic development, and various fields closely related to our daily life. It will become the basic component of the metaverse economic operation mechanism, and it also represents the most anticipated and exciting blockchain technology The future of the heart.

2. Growth period

There are a total of 16 application markets in the growth stage, with the most subdivided fields, attracting the most vertical service providers, and forming the most active application ecology.

It is particularly noteworthy that in 2021, the following five application areas will achieve rapid growth, even explosive growth: carbon emission management related to the "carbon neutral" and "carbon peak" strategies will become the largest application hotspot this year, It will become an unavoidable long-term theme in all industries; with the growth of market demand and the evolution of blockchain technology, the development and application of global blockchain underlying facilities are booming; with the gradual upgrading of the industrial Internet, related Blockchain applications have begun to cover more industrial manufacturing sectors; as issues related to blockchain security continue to emerge, security applications on the chain are rapidly heating up; driven by the strategy of "intellectual property power", China's intellectual property rights Blockchain applications have the highest activity in the world.

3. Maturity period

Judging from the global data in the past two years, nine application fields, including sports/games, agriculture/food, supply chain traceability/management, and electronic storage/verification, are becoming mature and popular.

What deserves special attention is: on the one hand, the single pass-through application (NFT) with digital collections as the core is in full swing with the concept of "metaverse"; on the other hand, it should be pointed out that this type of application is only pass-through The low-level application stage will be rapidly popularized this year and will start to cool down.

It can be predicted that when a single token application (NFT) begins to enter the trough period, it will be a wider range of token applications, that is, token applications combined with social governance and various physical industries will begin to gain more time to develop opportunities.

Generally speaking, no matter whether it is for the application market that has just entered the growth stage or the application market that is still in the introduction stage, any blind "hype" will not help. After all, we have just entered the early stage of the blockchain 3.0 era, and only those participants who persist in intensive cultivation for a long time can obtain continuous growth opportunities.

Furthermore, the above lifecycle analysis is only an overall view from a global perspective. Due to differences in maturity, market expectations, competition levels, and inter-regional application level imbalances, all participants need to start from a global perspective, capture opportunities in dynamic changes, and avoid risks in dynamic changes in order to establish and continuously consolidate Sustainable application model, business model and management model.