- In April 2023, The German government has introduced the Future Finance Act, which aims to create a regulatory framework for startups focused on financial innovation. This legislation is designed to enhance the digitalization of capital markets, specifically by facilitating the issuance of e-securities using blockchain technology. By doing so, the government seeks to promote transparency and efficiency within financial transactions, ultimately fostering a more dynamic financial ecosystem
- In April 2023, The BBK Network has implemented a state-based architecture on the Ethereum Virtual Machine (EVM), significantly improving operational efficiency by removing the necessity for open payment channels between parties. This innovation addresses key challenges that have historically hindered the adoption of decentralized applications (DApps) within blockchain ecosystems. By streamlining interactions, the BBK Network aims to foster a more user-friendly environment for developers and users
- In January 2023, Amazon Web Services (AWS) announced a strategic partnership with Ava Labs, aimed at scaling blockchain adoption through the development of the Avalanche layer-1 blockchain. This collaboration will simplify the process of launching blockchain applications for individuals and organizations, enabling efficient management of nodes on the Avalanche network. The partnership signifies AWS's commitment to fostering innovation in blockchain technology across various sectors, including enterprises and government entities
- In August 2022, Amazon Web Services introduced the ‘Amazon Managed Blockchain Service,’ which supports two prominent open-source blockchain frameworks: Ethereum and Hyperledger Fabric. This service allows businesses to create and manage scalable blockchain networks without the complexities of underlying infrastructure management. By providing a managed solution, AWS blockchain aims to enhance accessibility for organizations looking to adopt blockchain technology, thus promoting innovation across various industries
- In April 2022, Intel Corporation launched its latest Intel Blockscale ASIC (Application-Specific Integrated Circuit) technology, which offers energy-efficient blockchain hashing capabilities for proof-of-work consensus networks. This technology is designed to optimize the performance of blockchain operations while minimizing energy consumption. By providing a more sustainable solution, Intel aims to support the growing demand for efficient and environmentally friendly blockchain technologies, aligning with global sustainability goals
Frequently Asked Questions
The market is segmented based on Segmentation, By Component (Platform and Services), Provider (Application and Solution Providers, Middleware Providers, and Infrastructure Providers), Type (Private, Public, Hybrid, and Consortium), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Development (Proof Of Concept, Pilot, and Production), Application (Real Estate and Construction, Agriculture and Food, Manufacturing, Energy and Utilities, Documentation, IT and Telecom, Insurance, E-Commerce, Consumer Goods, and others), End User (Transportation and Logistics, Retail and E-commerce, Media, Advertising and Entertainment, Travel, Health care and Life Science, Banking and Financial Service (BFSI), and Government) – Industry Trends and Forecast to 2031
.
The Global Blockchain Market size was valued at USD 17.23 USD Billion in 2023.
The Global Blockchain Market is projected to grow at a CAGR of 71.96% during the forecast period of 2024 to 2031.
The major players operating in the market include , IBM , Microsoft , SAP SE , Oracle , Digital Asset Holdings LLC , CONSENSYS , Huawei Cloud Computing Technologies Co. , Factom , Stratis Group , Intel Corporation , Symbiont , Guardtime , AlphaPoint. , NTT DATA Americas , Ripple , SoluLab , Chainalysis , Cision US , Riot Platforms , Bitfarms Ltd ,.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
