Block chain facilitates peer-to-peer transactions without the use of intermediaries such as banks and governing bodies. Bitcoin is regarded as the foundation of the development of BT.
The demand for the implementation of blockchain in the supply chain sector will increase with a mindboggling CAGR of 50% during the forecast period of 2019 to 2025.
The worldwide Blockchain in Government market is expected to grow at a CAGR of 84.5% in the course of the forecast period i.e. from 2018 to 2023.
The growth of the worldwide blockchain in retail market is driven by extension in demand for transparency related to product origin or processes and rise in need to reduce the duplicate record keeping.
With the modernization in every sector especially by digitalization of currency; Blockchain technology has penetrated deeply into all the industries verticals
Blockchain in Infrastructure encompassed in the scope includes various carbon block chain in infrastructure such as high, medium, low and stainless carbon Blockchain in Infrastructure.
Blockchain employment in automotive will comprise of many applications such as fleet managing service, or a car leasing company, any business involved in automotive industry will be able to utilize blockchain for better maintenance and repair, operational costs reduction, and improved interoperability with its partners.
Moving forward, more investments are expected to flow towards the development of this technology, and wide acceptance is expected for this technology.