Blockchain study: Blockchain will redefine how industries operate

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The blockchain study evaluates current and anticipated use cases for blockchain and assesses global market potential from 2020 to 2025. It says the tech will transform systems and processes.

The blockchain study report “Blockchain Technology Market by Service Type, Applications, Solutions, Industry Verticals 2020 – 2025,” available from the research literature platform Report Linker, evaluates key players, solutions and use cases. It also assesses the prospect of integrating blockchain with other technologies including Internet of Things (IoT) and artificial intelligence. The report includes detailed forecasts by use case, application and industry verticals from 2020 to 2025. This includes blockchain applications and solutions for both financial and non-financial markets.

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The analysis sees blockchain and related distributed authentication and accounting technologies transforming information and communication technology (ICT) systems and processes. It also foresees a substantial impact in terms of business model disintermediation across a wide variety of industry verticals.

Wide-ranging impact

The authors say the impact will be wide-ranging, including everything from investing and trading to the legal cannabis industry, and very deep in terms of changes to supply chains and relationships between vendors, customers and peers. The report points to current major impacts in shipping, food safety and various other logistics-heavy industries.

The study concludes that integration and operation of blockchain technology will redefine how various industries operate, dramatically improving efficiencies and reducing the cost of doing business. It points to IoT as an important area that is very promising. The use of blockchain in IoT networks and systems, it says, will be one of the key means for authenticating and authorizing transactions.

(Source: Report Linker)

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