Global Government and Industrial/Financial Blockchain Market Report 2021: A $4.47 Mn Market in 2020 is Anticipated to Grow to $83.3 Bn in 2027 as Central Banks Figure Out How to Use Blockchain
DUBLIN, May 12, 2021 /PRNewswire/ -- The "Government and Industrial/Financial Blockchain: Market Shares, Strategy, and Forecasts, Worldwide, 2021 to 2027" report from Wintergreen Research, Inc has been added to ResearchAndMarkets.com's offering.
A $4.47 million market worldwide in 2020, it is anticipated to grow rapidly to $83.3 billion in 2027 as central banks figure out how to use blockchain in their digital currency initiatives.
Worldwide markets are poised to achieve continuing growth as blockchain proves its value by managing digital transactions in real time across national boundaries, encouraging collaborative business efforts. Lowering transaction management costs is a key benefit.
Blockchain can be implemented in an IBM mainframe that is already a core technology for virtually every bank. Blockchain updates the security in transaction processing, implementing end to end encryption.
Government blockchain is used to implement Web 3.0. the ability ot transfer money as easily as people send an email. The question becomes, what does Web 3.0 look like? It looks like a distributed ledger system providing immediate currency exchange worldwide that mimics how the Internet is used to exchange e-mail. Web 3.0 features enhanced security added to a real time digital economic process.
The government blockchain market does not include what has been the biggest use of blockchain - to hide the money of criminals and terrorists - perform money laundering. After an inauspicious beginning, government blockchain has moved to digital currency, government blockchain is on the cusp of phenomenal growth, ready to reach $83 billion worldwide by 2027 as it creates new digital economic infrastructure.
ConsenSys acquired Quorum, the blockchain platform belonging to JPMorgan in a move that will solidify an ongoing relationship between the JPMC and ConsenSys. The-Quorum-blockchain is a premier transaction management system, settling $5 trillion in transactions per day.
The government blockchain market moves into rapid growth mode as the digital economy takes hold. As the banks and finance industry move into the modern age of real time transaction processing, blockchain is a core enabling technology for central banks. This market segment previously has been held back in part by the outdated aspects of the mainframe computing technology. IBM Blockchain and others are spurred by more modern ways to manage global transactions across national borders from IBM, Microsoft, and Accenture.
Blockchain is a type of distributed ledger system providing enhanced security to the real time digital economic process. Blockchain is comprised of blocks of digitally recorded data. The global market for blockchain at $4.47 billion in 2020 is anticipated to reach $83 billion in 2027. IBM, ConsenSys, and Microsoft are driving blockchain as their clients are making the transition to cloud services. Accenture has measurable market share as well.
Key Topics Covered:
1. Government Blockchain: Stable Value Currency Market Description and Market Dynamics
2. Government Blockchain Stable Value Digital Currency: Market Shares and Forecasts
3. Government and Industrial/Financial Blockchain Central Bank and Vendor Activities
4. Blockchain Research and Technology
5. Blockchain Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ic21wo
Research and Markets
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SOURCE Research and Markets