Blockchain Market Covers Leading Manufacturer IBM Corporation, Microsoft Corporation, Amazon.com, Intel Corporation & NVIDIA Corporation
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"Applications Of Blockchain Market"
Blockchain permits applicants to authenticate and review transactions. Blockchain-based transactions of value can be completed in faster way, more safely, and economically than conventional transaction systems. Rising popularity of these ledger chains has led to a significant increase in total capital investments in cryptocurrencies. As of December 2017, according to CoinMarketCap, a cryptocoin price market capital tracker, total market capitalization of the cryptocurrencies was valued at over US$ 500 billion from around US$ 18 billion in 2016.
On the basis of end-user industry, the blockchain market segmented into:
- Initial Coin Offering Institutions
- Digital Currency Providers
- Blockchain Stocks
- Peer to Peer Lender
- Banking, Financial Services, and Insurance (BFSI)
- Information Technology
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Blockchain technology can be used to build a permanent and transparent ledger system for gathering data on exchanges, real-time tracking of digital transaction and payments, and to prevent frauds and errors, are also factors expected to boost the blockchain technology market growth.
Some major applications of blockchain includes use in cryptocurrencies such as Bitcoin, Black coin, Dash, and Nxt and blockchain platforms such as Factom as a distributed registry, Gems of decentralized messaging, Storj and Sia for distributed cloud storage, and Tezos for decentralized voting.
The blockchain market is expected to be segmented on the basis of geography in North America, Europe, Asia Pacific, Latin America, Middle East, and Africa regions. The market in North America is expected to be dominant in the global market, owing to rising awareness and increasing applications of this technology in various segments. U.S. Department of Energy is exploring the application of blockchain technology for the management of next-generation power grids.
Key players operating in the Blockchain market include IBM Corporation, Microsoft Corporation, Amazon.com, Inc., SAP SE, Intel Corporation, Samsung Group, NVIDIA Corporation, Xilinx, Inc., AMD, Inc., Siemens AG, Accenture Plc, and Infosys Ltd.
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