Blockchain Technology Market Experience a Tremendous Growth in Near Future

Blockchain Technology Market

Blockchain technology is used to record Bitcoin transactions via a global network of computers. It is a continuously growing list of blocks (records) that are linked and secured using cryptography. Each new block created is connected to the previous block via a "cryptographic Hash". Chinese organizations are planning to develop the world's leading Blockchain-based platform. The Chinese government is backing a blockchain fund of worth USD 1 Bn. Government auditors are looking forward to utilizing Blockchain technology as a solution to store data.


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The key market players in the industry include IBM Corporation; Microsoft Corporation; Linux Foundation; and R3. Some other key players in the market include BTL Group; Chain Inc.; Deloitte; Circle Internet Financial Limited; Global Arena Holding, Inc. (GAHI); Post-Trade Distributed Ledger; Ripple; and Eric Industries; among others.
The industry is characterized by a growing amount of investments in the developing technology structure and increasing collaboration among different stakeholders. For instance, in April 2016, Microsoft Corporation (U.S.) entered into a partnership with R3 consortium to gain a competitive advantage over Amazon Inc. (U.S.) and Alphabet's Google Inc. (U.S.). Similarly, Deloitte is also leveraging the expertise for the auditing and reconciliation processes.

Type Outlook
o Public
o Private
o Hybrid

Component Outlook
o Application & Solution
o Infrastructure & Protocols
o Middleware

Application Outlook
o Digital Identity
o Exchanges
o Payments
o Smart Contracts
o Supply Chain Management
o Others

Enterprise Size Outlook
o Large Enterprises
o Small & Medium Enterprises

End Use Outlook
o Financial Services
o Government
o Healthcare
o Media & Entertainment
o Retail
o Transportation & Logistics
o Travel
o Others

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