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Blockchain Data World Storage

How is Blockchain Technology Market Going to Rise at High CAGR of 38.4% Till 2025?

The global Blockchain Technology Market is forecast to rise exponentially in the coming years. The market is expected to witness high demand from diverse industries, especially the banking, financial services, and insurance (BFSI) industry.

In terms of industry vertical, the banking, financial services, and insurance segment held the leading share of 41% in global blockchain technology market in 2017. The segment will gain further impetus following introduction of bitcoin. “Rampantly increasing cyber-attacks and frauds in the BFSI industry accounts for millions of dollars. This has become a global concern. To make the technology used in the industry safer and more secure, Deloitte and Microsoft Azure and other tech giants are offering blockchain services,” said a lead analyst.

In terms of deployment, the proof of concept segment is gaining traction and is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is backed by high need of transparent transaction across industries such as healthcare, retail and BFSI.

blockchain technology market

Increasing Demand for Secure Blockchain Technology to Guarantee Growth at Promising Rate

Government initiated awareness programs regarding benefits of blockchain technology among undeveloped nations is anticipated to fuel the demand in the global blockchain technology market“, said a lead analyst at Fortune Business Insights.

Increasing adoption of e-financial services and rapid adoption of the blockchain technology in developed nations are expected to drive the global blockchain technology market during the forecast period.

Increasing number of new blockchain products and their approval grants is also anticipated to act as a driving factor for the global Blockchain technology market.

Partnerships Among Key Market Players and Blockchain Developers Driving the Market in North America

North America emerged dominant in the global blockchain technology market in 2017. The North America market was worth US$ 820 Mn in 2017. The region will continue leading the market at a global level through the forecast period. Growth witnessed in the market is also attributable to recent collaborations between market players in the U.S. and blockchain service provides. Europe is also anticipated to witness impressive growth during the forecast period owing to high presence of blockchain technology developers.

In 2017, IBM was the leading organization in the global Blockchain technology market. Other companies operating in the global market are Oracle Corporation, Deloitte, Microsoft Corporation, IBM Corporation, The Linux Foundation, Chain Inc., Consensus Systems, Bits, Inc (Tendermint, Inc.), Schvey, Inc. (Axoni), VironIT, Altoros, and Fintech & Blockchain Software House.

Source: https://www.fortunebusinessinsights.com/industry-reports/blockchain-technology-market-100072

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Satoshi

Ethereum and Arcade City could kill Uber

A few days ago Don Tapscott suggested the idea that the blockchain could cause the death of services like Uber and Airbnb.
And it seems like this is truly happening, as a service called Arcade City has officially published a press release where they “declare war on Uber over fare cuts and plan to replace drivers with self-driving cars”.

Arcade City is an open marketplace where riders connect directly with drivers. It only works via a mobile app, available for both iOS and Android. 

How it works

Let the company speaks for itself:

It works through the Ethereum Blockchain

Most importantly, Arcade City integrates the Ethereum blockchain.
During a recent interview with CoinTelegraph, Christopher David, founder at Arcade City, commented: 

“the main deciding factor was that the vision of Ethereum aligns precisely with our own vision of peer-to-peer transportation and distributed logistics”.

Where can we move with Arcade City?

At the moment Arcade City is active in the US.
These are the states: Arizona, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Michigan, Minnesota, New Mexico, North Carolina, New Hampshire, New Jersey, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington and Washington D.C.
Drivers are also available in Australia; while Mexico, Canada and Sweden will be launched next spring.

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Amelia Tomasicchio

Helperbit wins the Blockchain startup competition in Amsterdam

On February 18th Helperbit won the blockchain startup competition held at the d10e in Amsterdam.
Helperbit is a “natural disaster management platform” that aims at helping stricken people with a simple peer-to-peer donation system.

Blockchain + GIS

Obviously this is possible thanks to the blockchain technology that allows a smart and fast transfer of values. Also, thanks to the interaction between the blockchain and the geographic information system (GIS) Helperbit can store all the information concerning the effects of the natural disasters.
The platform will be active in case of earthquakes, but also it will be extended to all the different natural disasters, such as hurricanes, fires and floods.

Blockchain Space

Again on February 18th, it was held the inauguration of the Blockchain Space, a “focused startup accelerator for talented visionaries creating disruptive solutions to real-world problems using blockchain technology”.
Among their selected startups, obviously there is Helperbit, who presented its project during the event held in Barcelona.
Helperbit team members are: Vincenzo Agui, Davide Menegaldo, Guido Baroncini Turricchia, Davide Gessa, Roberto Tudini, Gianluca Carbone and Luigi Angotzi. 

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Amelia Tomasicchio

Gemalto joins Symbiont to use the Blockchain

Recently we talked about several companies all around the world, like Microsoft or IBM, that are conducting tests about the blockchain and how to introduce it on their business.
Well, today is the turn of Gemalto, a digital security multinational who announced today its interest in the bitcoin technology.
Gemalto has in fact started a new partnership with Symbiont, a well-known blockchain startup that aims at “bridging the gap between the emerging blockchain ecosystem and Wall Street, with the first issuance and trading platform for Smart Securities™”.
According to a new interview with Gemalto’s vice president of business strategy Mark Yakabuski, the blockchain has two potential applications within the market.
These are his words:
“We believe that the first generation of blockchain is going to be driven by the financial services industry. The second generation, we believe the blockchain has the ability to be adopted within the Internet of Things. […] From what I’ve seen, security within the bitcoin and blockchain solutions is certainly in its infancy and there’s a lot of room for growth and improvement. […] But we believe that the solutions built on blockchain will expand quite rapidly, and we want to be a leading security option for our customers as that expands.”
So Gemalto – together with Symbiont – wants to find all the possible applications of the blockchain (like smart and programmable contracts, for example) and also wants to use the Bitcoin technology to improve Gemalto’s existing hardware and APIs.
“Our partners are looking for the level of assurance we provide on our products, and that leads us to believe that these ledgers are going to be adopted by those institutions”, he continued during an interview with Coindesk.
However, it is important to remember that Gemalto already works with some bitcoin exchanges, using its HSMs for cryptographic security.
Furthermore their techs can “adopt to new use cases, and we’re doing what we’ve done across financial industries, which is protecting identities and the transactions they perform”, continued Yakabuski.

About the author: Amelia Tomasicchio is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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Amelia Tomasicchio