Anyone looking to get into the exciting world of cryptocurrency needs to know the ins and outs of blockchain technology.
Market Analysis:
Blockchain is an emerging technology, so predictions are still mixed about its potential.
In a TechRepublic Research study, 70% of professionals who responded said they hadn’t used blockchain. But 64% said that they expect blockchain to affect their industry in some way, and most predict a positive result.
• A recent Trend Insight Report from analyst firm Gartner made the following forecast:
• Through 2022, only 10% of enterprises will achieve any radical transformation by using blockchain
• By 2022, at least one innovative business built on blockchain technology will be worth $10 billion
• By 2026, the business value added by blockchain will grow to just over $360 billion, then by 2030 grow to more than $3.1 trillion
Benefits of Blockchain
• Transparency• Traceability
Almost all the sectors out there can benefit from the blockchain. Out of all the sectors out there, the four sectors that we think benefit the most include Energy, Real Estate, Logistics, Healthcare, Finance, and Government. There are already many companies using blockchain technology actively after realizing the potential of this tech.
As ledger technology continues to evolve so are businesses and organizations looking for ways to gain a head start on a technology that promises significant opportunities. Blockchain consulting firms are slowly cropping up, all in the effort of addressing the growing demand for professional advice.
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