Switzerland-based bank Credit Suisse (TIKER: CSGN.SIX) says 2018 will be a critical year for blockchain technology, Business Insider reported.
Market watchers can expect 2018 to be a year in which "certain products go viral" and "new providers/models emerge," the bank said.
"Blockchain solutions will come into production as the “low-hanging fruit” of the industry is addressed – i.e. where blockchain’s use is immediately obvious, such as payments and trade finance," Credit Suisse said.
The bank says the blockchain technology is in pilot stage and will reach full maturity in 2025.
According to Credit Suisse, a survey conducted by the World Economic Forum found 58% of executives anticipate 10% of global GDP to "be stored on the blockchain before 2025."
Here's a chart illustrating blockchain's development timeline:
