17th December,
2018- Blockchain
Market is subject to witness a substantial growth due to
increasing adoption of blockchain technology in financial services, the
exclusion of third parties for financial deals, and limited occurrence of fraud
& identity theft. However, lack of awareness about the blockchain
technology among general population is expected to restrain market growth to
large extent.
Although, addition of block-chain technology that provides
more security and flexibility for financial services in cryptocurrency market,
thus offering numerous growth opportunities for business, in the recent years.
Globally, the blockchain market is predicted to grow at a significant CAGR in
forecast period, providing numerous opportunities for market players to invest
for research and development in the blockchain technology.
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A block chain is a constantly
growing list of records, which are also termed as a block; these blocks are
connected and managed with the help of cryptography. Every block broadly
consists of a hash pointer that is linked with the previous block, along with a
timestamp and transaction data. Block chains does not allow any modification to
the existing data, thereby providing necessary security. The authenticity of
every cryptocurrency coins is provided with the help of a blockchain. These
factors are expected to fuel the growth of market during the forecast period.
Latest technological
advancement in banking & financial sector coupled with inclination towards
innovation necessary for a communal financial transaction database are
anticipated to foster the demand for blockchain technology in upcoming years.
The blockchain technology involves monitoring & formation of new units,
enhanced security and minimizing risks such as money fraud.
Countries such as Malaysia,
China and Singapore are leading the Asia-Pacific market with shifting trends
towards adoption of digital currency over traditional form of financial
exchange and significant investment by leading industry players considering potential
growth opportunities in the region. The key players in the blockchain market
are Chain Inc., Circle Internet Financial Ltd., Digital Asset Holdings Ltd.,
Eric Industries Co., IBM Co., Linux Foundation, Post-Trade Distributed Ledger,
Inc., R3CEV LLC, and Safello AB.
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Market Segment:
Market Leaders
• IBM
• Microsoft
• Accenture
Market Participants
• Axoni
• Abra
• Advanced Micro Devices’
• BTL Group
• BlockCypher
Key Topics
• Distributed ledger
• Bitcoin
• Blockchain
• Cryptocurrency
• Digital economy
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