Global Blockchain Technology Market To Worth USD 13.8 Billion By 2022

Date: 2018-04-25

Blockchain Technology is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.

The largest contribution for growth of Blockchain Technology that is attributable to penetration of the Internet of Things across various industries, to achieve cost reduction on data management, consortiums have ramped up their investments in IoT technology, and Blockchain Technology can enable enterprises to derive actionable insights from the IoT data generated, Blockchain Technology has been swiftly progressing, according to research, the global Blockchain Technology market is expected to worth USD 13.8 billion by 2022.

In term of geography, the North America is dominating the market around the world, this thanks to earlier adoption of Blockchain Technology by their plenty of established internet giants, North America is expected to be the biggest market in terms of market size, and whereas Asia Pacific and Europe are expected to experience increased a significant CAGR over the forecast period.

Blockchain Technology offers actionable analytical and predictive data to organizations in order to carry out their business operations effectively related to product and customer data. For product and customer centric industries, availability of effective and accurate master data is critical. Discrepancy in customer as well as product related data can cost any organization hugely in terms of time and money.

The global leading players include Deloitte Touche Tohmatsu Ltd., Blockchain Tech Ltd, Digital Asset Holdings, Ripple Labs Inc., Global Arena Holding, Inc., BitFury Usa Inc., Chain, Inc., Coinbase Inc., Abra, Inc., Circle Internet Financial Limited, Global Arena Holding, Inc., among others.

Global Blockchain Technology market share by region as following:

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520


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