Blockchain Technology Market Research Report - Global Forecast to 2023

Market Scenario Blockchain technology is the trending word in the digital currency market. The technology has an ability to perform financial operations instantaneously through permissioned ledgers which are distributed uniformly. The major growth factors of the blockchain technology market, is the rising security concern for payment and transactions by companies. Blockchain technology offers secure and faster payment services with the help of cryptography technology which keeps the data encoded until it will reach to receiver. The increase in adoption of blockchain technology in the financial services sector, public sector and healthcare segments are other prominent factors that is expected to fuel the market. Report Sample:

Market Research Analysis: Banking, Financial Services, and Insurance (BFSI) sector is expected to dominate the market with the largest market share. BFSI sector is investing in blockchain technology, owing to its ability to address multiple challenges associated with digital transaction such as double spending and currency reproduction. Double spending which is an attack where the given set of coins is spent in more than one transaction. It is also capable to reduce the cost of online transaction and simultaneously increase security and authenticity. These benefits are the prime reason for the adoption of blockchain technology within the banking sector. Browse Complete Report Details:

Report Synopsis: This MRFR perspective presents a comprehensive analysis on the global blockchain technology market. It includes a detailed analysis of the market opportunities for blockchain technology along with a five-year ( ) revenue forecast. The research document also includes a discussion on recent advanced and technical challenges. Some of the anticipated future trends for the global blockchain technology have also been laid down. Other key pointers in the document include analysis of different blockchain service providers, blockchain applications (payment & transaction, smart contract, digital identity, documentation, exchanges etc.) Domains that are listed in the document are healthcare & life sciences, BFSI, IT & telecommunication, retail, government, travel & hospitality, and real estate & construction among others.

Key Players: IBM Corporation (U.S.), Microsoft Corporation (U.S.), Deloitte, Inc. (U.S.), Ripple (U.S.), Coinbase (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), Bitfury Group (U.S.), BlockChain tech Ltd. (U.K.), and Earthport PLC (U.K.) are some of the prominent players at the forefront of competition in the Global Blockchain Technology Market and are profiled in MRFR Analysis. The major players in this market have adopted the strategies such as geographic expansion, product launch, collaboration, and mergers & acquisitions. The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding, geographically and improving the services.

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