The latest market report published by Credence Research, Inc. Block Chain Technology Market, By type (Private, Public and Consortium), By End-use industry (Banking, Financial Services, and Insurance (BFSI) and Non-Financial Services) By Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025, the global block chain technology market was valued at US$ 482.1 Mn in 2016, expanding at a CAGR of 55.5% from 2017 to 2025.

Browse the full Block Chain Technology market - Growth, Future Prospects and Competitive Analysis, 2017 2025 report at http://www.credenceresearch.com/report/block-chain-technology-market

Market Insights

Block chain technology is one of the most promising upcoming technological trends in the information technology domain. It enables a ledger that can be accessed by parties involved in the transaction and can act as the universal irrefutable depository of all transactions between the involved parties.

The numerous benefits involved in developing such a platform have already attracted the attention and hence, investments, from the financial sector as well as many technological giants. Recent investments have been made in the technology by various financial institutions in association with key technology players to further improve the efficiency of the underlying financial processes and help minimize the risk. Not only does the technology hold the ability to disrupt the way the financial sector often works, but it will also have conclusive effects on non-financial industries including consumer goods, technology, and media & telecom, among others.

Competitive Insights

Market players present in the market are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), and Earthport (U.K.). Stakeholders of the block chain technology market includes service providers, consulting firms, IT service providers, and technology providers.

By Application

• Supply chain management
• Governance, risk and compliance management
• Payments
• Exchanges
• Smart contracts
• Documentation
• Digital identity
• Others (digital voting and content storage management)

By Provider

• Middleware provider
• Infrastructure and protocol provider
• Application and solution provider

By Organization Size

• Large enterprises
• Small and Medium-Sized Enterprises (SMEs)

Key Trends

• Growing interest of the BFSI sector and increasing merchants accepting crypto currencies offers huge growth potential
• Block chain technology powered by artificial intelligence is gaining huge traction
• Uncertainty in regulatory status

Browse the full Block Chain Technology market - Growth, Future Prospects and Competitive Analysis, 2017 2025 report at http://www.credenceresearch.com/report/block-chain-technology-market

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A blockchain, originally block chain,  is a continuously growing list of records, called blocks, which are linked and secured using cryptography.  Each block typically contains a cryptographic hash of the previous block,[6] a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way".For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records,  and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability or voting. Source: Wikipedia

Is blockchain technology the new internet?

The blockchain is an undeniably ingenious invention the brainchild of a person or group of people known by the pseudonym,  Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology.

Bitcoin has been called digital gold, and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you dont need to know how the blockchain works to use it. However, having a basic knowledge of this new technology  shows why its considered revolutionary. So, we hope you enjoy this, what is Blockchain guide. [Ref: blockgeeks.com]

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