The latest crypto news show that blockchain is the leading agent and a revolutionary technology which is swiftly disrupting many industries. In that manner, blockchain can answer some of the most pressing efficiency concerns in the corporate world nowadays.
In times when digital technologies are entering almost every aspect of our life, blockchain is the leading agent and the digital economy, according to reports, is expected to comprise 24.3% of the world’s gross domestic product by 2025. It could reshape the entire market and give it an astronomical valuation of around $23 trillion. Among the few innovative technologies in this manner, we have blockchain.
Even though the technology came to be the core technology behind BTC and the Bitcoin news, it is today an independent one which impacts several industries. From gaming companies to enterprises and even manufacturing ones, blockchain is used in many applications.
The fact that with it, data cannot be changed or deleted (once it is in the database), informing all involved parties takes possible uses of the technology to a new level. In that manner, the “Big Four” audit firm PwC rolled out a survey to 600 executives around the globe and found that around 84% of the respondents already use the technology in their organization one way or another.
Additionally, many reports show that the system needs more active monitoring and there have been attempts by government authorities to do so. Simply put, the technology is here to stay.
Reports by Garner in the blockchain news show that by 2030, blockchain will lead a market worth over $3.1 trillion. Adrian Lee, the senior research director at Gartner noted the following:
“Product managers should prepare for rapid evolution, early obsolescence, a shifting competitive landscape, future consolidation of offerings and the potential failure of early stage technologies/functionality in the blockchain platform market.”
There are so many industries which are impacted by blockchain. From gaming to gas, oil and energy, entire sectors are being shifted to new levels. Blockchain makes it possible for companies to track goods and trading, helping reduce a big chunk of the paper-based documentation. Even automotive leaders such as BMW are planning to use blockchain as a technology in the modern vehicles coming in the near future.
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