Research and Markets has announced the addition of a new report to its portfolio. Titled “The Blockchain Technology Market: Commercial Applications (Financial Services, Media, Healthcare, Real Estate, Energy, Government and Supply Chain) and Opportunity Analysis and Forecast, 2016 – 2025”, this document blockchain technology landscape analysis’ is a study of the construct of the blockchain ecosystem, industry stakeholders, emerging opportunities and challenges to implementing them.
Following an analysis of the current trends, the market dynamic chapter includes the key push and pull forces that are expected to influence the deployment of the technology in the next ten years. Due to the dependency of the market growth on the legal and regulatory framework, government initiatives and the role of start-ups, financial monoliths and consortiums, the anticipated value to be added over blockchain from different industries from 2015 to 2025 is calculated.
Potential benefits that blockchain offers users in comparison to legacy systems that are being used currently are examined, including the ability to elimination of third party intermediaries, creation of transparency, streamlining of due processes, protection from malicious attacks and internal and external cost savings.
A trend was noted where a multitude of companies across industry verticals are investing heavily to develop feasible applications of the technology, as blockchain presents the opportunity of transforming the way business transactions are done presently.
Some of the key points that the report addressed included factors that will be driving the adoption of the technology through the forecast period, the factors currently challenging the development and implementation of blockchain technology and how consortiums are participating in endorsing the technology. Also answered were questions on currently identified use cases of blockchain and therefore the industry sectors which could be disrupted through the use of blockchain and how. Following this the report examines how will the adoption of blockchain might change in next ten years and who the key players involved in investing in, developing or leveraging blockchain are?
The report involves a mix of companies which were chosen on the basis of their research and development on blockchain and implementation of successful blockchain applications. Companies included Bitcoin Group, BitFury, Bitpesa, BTL Group, Ltd., Circle, Citigroup, Coinbase, Colu, Earthport, Factom, IBM, Kraken Digital Asset Exchange, NASDAQ, Inc., R3 CEV, Ripple Labs, Shocard and Stripe.