10% of the world's wealth set to be stored on blockchain by 2027: Cisco

As much as 10% of the world's wealth will likely be stored on blockchain technology by 2027, according to a new report from networking giant Cisco. This means that as much as $10trn (€8.9trn) of global GDP could be stored on both decentralized and permissioned blockchains within eight years. Currently, global GDP is valued at about $80trn  by 2027. Cisco also expects $9.7bn would be spent annually on blockchain projects by 2021. According to Cisco, "the true innovation of blockchain is its ability to automate trust among the parties using it. - This embedded trust allows consumers, en...