orecasts suggest that global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 23.3 billion U.S. dollars in size by 2023.
The financial sector has been one of the quickest to invest in blockchain, with over 60 percent of the technology’s market value concentrated in this field.
How is blockchain used?
Given its nature as a tamper-evident distributed ledger, the technology offers many possible uses to business ventures spanning across different industries. As of 2018, the most common use cases for blockchain within organizations include supply chain management and Internet of Things (IoT). The technology has also proven itself to have great promise in the field of digital currency and payments, with the most successful cryptocurrencies in the world built using the platform and many businesses using some type of blockchain system for inter-company transactions.
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