Press release
Comprehensive Analysis on Blockchain Market with Key Players: IBM • Microsoft • Accenture • Market Participants • Axoni • Abra • Advanced Micro Devices • BTL Group • BlockCypher • BitFury Group • Chain • ConsenSys • Deloitte • Et
Worldwide Blockchain markets are poised to achieve continuing growth as blockchain proves its value by managing digital transactions in real time across enterprise boundaries, encouraging collaborative business efforts. Lowering transaction management costs is a key benefit.
A $706 million market worldwide in 2017 after 10 years of being available, the blockchain market has evolved rather slowly. It?s biggest use has thus far been to hide the money of criminals and terrorists. After this inauspicious beginning, it is on the cusp of phenomenal growth, ready to reach $60 billion worldwide as it creates new digital economic infrastructure.
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Moving past a nefarious history, the blockchain market moves into rapid growth mode as the digital economy takes hold. As the banks and finance industry move into the modern age of real time transaction processing, blockchain is a core enabling technology. This market segment previously has been held back in part by the outdated aspects of the mainframe computing technology. Blockchain is spurred by more modern ways to manage global transactions across national borders from IBM, Microsoft, and Accenture.
Blockchain is a type of distributed ledger system providing enhanced security to the real time digital economic process. Blockchain is comprised of blocks of digitally recorded data.
Demand for blockchain technology is growing everywhere, for example among the largest users of IBM cloud capacity to manage supply chains. 60 IBM cloud data centers see blockchain as the top application driving growth.
Digital technology is dominant worldwide. The old mainframe digital technology managed data in batches, now digital data is managed in real time over the Internet. Blockchain brings digital technology into real time computing systems management. It has the ability to change all aspects of the digital economy, including conducting business, delivering healthcare, shopping, enhancing education and learning, entertainment, and staying connected with a social world.
Recently, blockchain digital technology has evolved further to aid in conducting financial transactions. Online payments have gained huge traction. Card based payment methods, credit and debit cards have become dominant. Blockchain supports all these changes by creating increased speed of transaction processing and greater efficiency in real time processing.
Cryptocurrency is becoming increasingly popular. Distributed ledgers support the payment system for digital currency to operate in decentralized mode, by eliminating the need of intermediaries to centralize processing. Distributed ledger technology further enables tracking of financial transactions.
It virtualizes tracking and trading anything of value via creating digital money. Credit cards become an essential part of the blockchain process. Blockchain provides a robust environment for secure data sharing in real-time. Blockchain is a type of distributed ledger system providing enhanced security to the real time digital economic process. Blockchain is comprised of blocks of digitally recorded data, creating a distributed ledger. There are many different types of distributed ledger systems, each obeying its own security and privacy levels.
Demand for blockchain technology is growing among the largest users of IBM cloud capacity. IBM 60 cloud data centers see blockchain growing to be one of the top applications in use. IBM blockchain digital ledger market is growing rapidly, a much-needed event for big blue. IBM has been one of the key companies behind the Hyperledger consortium, a nonprofit open-source project that aims to create efficient standards for commercial use of blockchain technology.
Microsoft enterprise customers are making the transition to cloud services and blockchain on Azure. Modernizing transactions to digital economic collaboration support is key to success in modern business environments. Blockchain Cloud Service helps customers extend existing applications like enterprise-resource management systems. Microsoft expanded its partnership with consortium R3 to make it easier for financial institutions to deploy blockchains in its Azure cloud.
The global market for blockchain at $708 million in 2017 is anticipated to reach $60.7 billion in 2024. IBM and Microsoft are driving blockchain as their clients are making the transition to cloud services. Accenture has measurable market share as well.
Companies Profiled
Market Leaders
• IBM
• Microsoft
• Accenture
• Market Participants
• Axoni
• Abra
• Advanced Micro Devices
• BTL Group
• BlockCypher
• BitFury Group
• Chain
• ConsenSys
• Deloitte
• Ethereum
• Ezyremit
• Global Arena Holding
• Provenance
• R3
• Ripple
• Scorechain
• Slock.it
• TATA Consultancy Services
Key Topics
Distributed ledger
Bitcoin
Blockchain
Cryptocurrency
Digital economy
Bitcoin Transactions
Digital Transactions
Digital Currency
Plm Software
Data Center Infrastructure, Enterprise Application Industry Trends
Enterprise Application Market
Financial Ledger
Internet architecture
Transactions in real time
Enhanced security
Collaborative business
Across enterprise boundaries
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Table of Contents
Abstract: Blockchain Markets Headed to $60 Billion Worldwide by 2024 1
Blockchain Executive Summary 15
Blockchain Market Driving Forces 15
Blockchain Leverages Artificial Intelligence (AI) 18
Blockchain Market Shares, Dollars, Worldwide, 2017 19
Blockchain Market Forecasts 20
1. Blockchain: Market Description And Market Dynamics 23
1.1 Blockchain Market Description and Market Dynamics 23
1.2 Blockchains: Cryptographically Secured Distributed Ledgers 24
1.2.1 Blockchain Companies Initial Coin Offerings ? ICOs 24
1.2.2 Transfer Of Social Trust: From Institutions To Systems Using Well-Tested Computer Code 26
2. Blockchain Market Shares And Forecasts 28
2.1 Blockchain Market Driving Forces 28
2.1.1 Blockchain Leverages Artificial Intelligence (AI) 32
2.2 Blockchain Market Shares 34
2.2.1 Blockchain Market Shares, Dollars, Worldwide, 2017 36
2.2.2 IBM and Microsoft 37
2.2.3 IBM Blockchain 38
2.2.4 IBM Implements AI Support for Blockchain 39
2.2.5 IBM Blockchain Decentralized Ledger In Supply Chains 39
2.2.6 IBM Blockchain Decentralized Ledger In Medical Industry 40
2.3 Blockchain Market Forecasts 40
2.4 Blockchain Applications 46
2.5 BFSI: Blockchain Impact on Stock Market 50
2.5.1 Blockchain Impact on Financial Services and Banking ? Forecasts to 2024 62
2.6 Blockchain for Healthcare 64
2.7 Blockchain for Cybercurrency and Legal Industry 70
2.8 Blockchain for Supply Chain 73
2.9 Blockchain for Internet of Things 75
2.9.1 SoftBank CEO Masayoshi Son Sees 1 Trillion Devices for Internet of Things 80
2.10 Cloud Revenue 81
2.11 Blockchain Pricing 83
2.11.1 IBM Blockchain 83
2.11.2 Microsoft Blockchain Pricing 86
2.12 Blockchain Regional Market Segments 88
3. Blockchain Product Description 91
3.1 Blockchain Best Known For Being The Technology Underlying Cryptocurrencies 91
3.2 JPMorgan Chase Blockchain Network Quorum 92
3.3 Blockchain Best Known For Being The Technology Underlying Cryptocurrencies 93
3.4 HIVE Blockchain Technologies 94
3.5 Accenture 94
3.6 Hitachi 94
3.7 Overstock 94
3.8 Digital Currency: BitCoin 95
3.9 China Opens Its Financial System To The World 98
3.9.1 China Ending Anonymity of Virtual Accounts to Cryptocurrency Exchanges 99
3.10 Korean Blockchain Association 100
3.11 European Union Central Bankers On Cryptocurrency 101
3.12 Fidelity Investments, Blockchain 103
3.13 Ethereum 104
3.14 Blockchain Bitcoin 105
3.15 Ripple Blockchain 107
4. Blockchain Research And Technology 108
4.1 On a Blockchain, a Node Replicates The Data For All Nodes 108
4.2 Blockchain Electricity Usage 109
4.3 Accenture Patent Tied To "Editable Blockchain" 109
5. Blockchain Company Profiles 110
5.1 360 Blockchain Inc 110
5.2 Accenture 110
5.2.1 Accenture Blockchain Solutions 110
5.2.2 Accenture Blockchain Partnerships 110
5.2.3 Accenture Alliance with Digital Asset Seeks To Fundamentally Change The Way Companies Verify And Settle Transactions 111
5.2.4 Accenture Collaborates with Partners 112
5.2.5 Accenture Digital Asset Partners 113
5.2.6 Accenture Revenue 118
5.3 Abra 118
5.4 Amazon 119
5.4.1 Amazon Blockchain Partners 120
5.4.2 Amazon Blockchain Partner Solutions 123
5.4.3 Amazon Sawtooth 125
5.4.4 Corda R3 125
5.4.5 PokitDok 125
5.4.6 Samsung Nexledger 125
5.4.7 Quorum 126
5.4.8 Amazon Blockchain Deloitte 126
5.4.9 Luno 127
5.4.10 Amazon Web Services 128
5.5 Axoni 129
5.5.1 Comments from Axoni Users as to Reliability of Equity Swap 133
5.5.2 Axoni Confirmation Templates 134
5.6 BitFury Group 135
5.6.1 Richard Branson Digital Currency Summit On Private Caribbean Island 136
5.6.2 Bitfury Group Blockchain Analytics 137
5.6.3 Bitfury Group Lightning Network 137
5.7 Binance Exchange 138
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