According to a new study published by Polaris Market Research the global blockchain technology market is anticipated to reach USD 16.82 billion by 2026. Also termed as Distributed Ledger Technology (DLT), blockchain enables secure transaction over a distributed network. Since the transactions are taken place usually over the network, it is difficult to reverse the transaction history. Blockchain also eliminates the need of third-party verifications since the ledgers are shared by all the parties over the distributed network. These are some of the major factors for adoption of blockchain technology.
Get a sample of the report from -> https://www.orbisresearch.com/contacts/request-sample/3177766
Blockchain technology is currently being adopted majorly by the financial institutions due to its benefits such as reduced infrastructural costs for reconciling statements, data management settlements etc. It has also been proven beneficial to increase the transactional speed by eliminating the need of trusted third party. Bitcoin uses cryptography for securing its ledgers, thus ensures high security platform for the transactions.
Top Leading Players:
Key Findings from the study suggest the largest share of this market in 2017 was of North America, as there are a fundamentally high number of ventures adopting the blockchain technology. The technology will have the capacity to help IoT applications in technology and telecom sector along with the enhanced payment solutions. The healthcare segment will adopt this this technology owing to secure their sensitive information. Asia Pacific market is anticipated to grow at a faster pace because of its changing financial framework which drives the demand for secure and low-cost online payment transfers. Speculations have been that more companies would invest in this technology, thus tapping the huge potential in this market. Companies such as Chain Inc., Ripple, Eric Industries, Microsoft, Circle Internet Financial Limited, R3, Samsung, Deloitte, IBM, Deloitte, Linux Foundation, BTL Group, are some of the prominent players in this market.
Browse Report @ https://www.orbisresearch.com/reports/index/blockchain-technology-market-by-application-type-financial-services-consumer-products-technology-media-and-telecom-healthcare-transportation-public-sector-by-regions-market-size-and-forecast-2017-2026
Adoption of blockchain is not limited to the financial sector, however it is being implemented across different verticals. For example, with blockchain’s extended support for Internet of Things (IoT), the technology and telecom vertical is implementing blockchain for initiating a better coordination between different devices. This sector is also benefitting from blockchain because of its feature to eliminate the processing fees which gets levied by third parties. Healthcare vertical is also focusing on blockchain for securing its important and sensitive data and documents and for securing its digital assets.
The adoption of blockchain can be clearly seen in the North America followed by Europe at a fast pace. However, the market for blockchain is gaining traction in Asia Pacific region owing to the developing economies such as India and China adopting this technology. Countries such as Australia have already adopted this technology and are developing a private blockchain for its stock exchange’s clearing and settlement process.
For more Information or Any Query Visit @ https://www.orbisresearch.com/contacts/enquiry-before-buying/3177766
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +9120641 01019
Authored by Tom Luongo, Friday night used to be the ‘best night on television.’ But today Friday afternoon is becoming… Read More
Overstock was one of the first major companies that expressed extreme interest in utilizing and adopting crypto – an interest… Read More
Over the past couple of days Bitcoin has found itself caught within a relatively tight trading range and has continued… Read More
Patrick Byrne this week resigned as CEO of US online retailer Overstock. The move closely followed the announcement of disappointing… Read More
It’s a bullish start to the day for the majors. Holding above key levels would support another breakout later in… Read More
Source: Wikimedia The decentralized platform AirSwap, a trade network driven by the Ethereum platform, launched a tool, called AirSwap Trader,… Read More