The research company Global Market Insights has published a report in which it says that the blockchain market will grow worldwide and will exceed $ 16 billion by 2024.
In its 180 page report
researchers note that one of the main drivers of blockchain growth will be the adoption of technology by financial companies. They will use blockchain systems in order to increase the efficiency of internal business processes and reduce transaction costs in the areas of trade finance, document management and customer identification.
The growth of blockchain applications will be 85% per year. The best indicators will be for user identification systems – about 90%. This is due to the need to resist cyber attacks and user fraud. The report notes that the average annual growth of blockchain in public administration and medicine will be 85% each.
Earlier in September, Global Market Insights predicted that by 2025, investments in blockchain in the healthcare market would exceed $ 1.6 billion. The technology will help in sharing medical data between healthcare facilities.
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