The Report Global Blockchain Technology Market (2018-2023) gives a detailed analysis on the global market for blockchain technology. The report gives current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) market size data for the global blockchain technology market, based on applications: smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and other, based on end users industries manufacturing, energy and utility, IT and telecommunication, healthcare and life sciences, consumer appliances, and transportation and logistics. The report covers market trends and market drivers and challenges for the global edge computing market. The report will help in formulating product marketing strategy based on industry and economic factors. The top players in the market are Microsoft Corporations, IBM, Accenture, Deloitte, Capgemini, Cognizant, Infosys, Tata Consultancy Services, VirustaPolaris, Wipro, Chain, Consensys, R3 Cev, Ripple, Guardtime, Gem, Everledger and Ascribe.
Blockchain is a block of chain of blocks, which store digital information that are stored in public database. These blocks are made of digital information. There are various types of information that can be stored. The first type of information is about the transactions. It stores information about the nature, amount and time of the transactions. The second type of information it stores is about who is transacting. It stores information about the person along with name which is not the original name but a name which is sort of a digital signature. The blocks have unique information and these are distinguished from each other block.
Just like the dot com revolution of the 90s, blockchain is expected be the revolution of this decade. Few important developments in the blockchain technology are widespread distributed data models, standardization and collaboration. DLT (distributed ledger technology) based government systems are on the way where many governments are looking forward to replace their digital structures and is a proof that it will develop over the time. Another advancement in blockchain technology is the standardisation among different blockchains.
There is a growing importance of specialised chains. Many underperforming cryptocurrencies have created a market for public technical debt and though as an industry new industry – grade blockchain uses cases, there are highly likely chances for an ecosystem with specialised chains and utility chains in parallel. Blockchain also ensures transparency across industries since the distributed ledger is prepared in such a way that provides complete privacy and control over data. Blockchain has also paved way for negotiations and trade to reach consensus towards secured data and common standards.
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Ankur Gupta, Head Marketing & Communications