Blockchain Market is expected to exceed USD 25 billion by 2025. The blockchain technology is driving the digital revolution of enterprises explicitly with the digitization of processes, automation, tokenization of physical resources, and activities & codification of intricate contracts.
Some major findings of the blockchain market report include:
- The blockchain technology market is estimated to propel over the forecast timeline due to several benefits offered by the technology such as reduction of duplicative recordkeeping, elimination of reconciliation, and validation of transactions
- Blockchain technology improves efficiency, enhances transparency in the business, and eases business processes
- Israeli startups are focusing on areas such as diamond registration, cybersecurity, cryptocurrencies, international shipping, and DNA data storage
- Major players operating in the blockchain market are IBM Corporation, Microsoft Corporation, R3, and SAP SE
- The new market entrants are raising funds from VCs, investors, and prominent industry leaders to increase their R&D spending
- Supportive government initiatives and hefty funds are augmenting the demand for blockchain technology across the globe
Blockchain can be used in stock markets for directly transferring shared ownership between various participants instead of using a centralized hub for all transactions. It has a huge potential across stock markets as it facilitates faster exchanges, reduces risks, and offers transparency & security.
The stock market stakeholders, such as brokers and traders & regulators, have to undergo complex processes, which will take up to three days to complete due to the role of various intermediaries. The blockchain simplifies the mechanism through decentralization and automation. It helps stakeholders to reduce the cost while speeding up the process for faster transactions.
The blockchain as a service has found increasing applications across supply chain management, identity management, payments, and risk & compliance management. The major factors driving the adoption in these sectors are cost reduction across data storage and increased efficiency. The blockchain technology offers decentralization across data storage, which is highly effective in reducing costs for the end users. For instance, in January 2018