Experts expect Asia to play lead development role across the world

Asia is expected to lead the development of blockchain technology worldwide, with China among the key countries to watch next year, according to experts.

Jason Potts, professor of economics and director of the Blockchain Innovation Hub at RMIT University in Melbourne, Australia, said Asian countries, including China, Singapore, South Korea and even Vietnam, are making huge investments in developing early-stage pilot projects and business experiments using blockchain technology. They are focusing on supply chains across a range of industries.

"We are seeing that (investment) more than we are seeing it in the United States, and definitely more than in Europe," said Potts, co-founder of the Worldwide Blockchain Innovation Association. "So, compared with other parts of the world, there is a lot more research and development taking place in Asia in the blockchain space."