The global blockchain distributed ledger market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The BFSI companies operating in the global market are rapidly adopting digital ledger technology to secure end-users financial and monetary data & identity. Technology applications including cross-border transactions, clearing and settlements, trade finance platforms, and credit reporting are gaining traction across various end-user industries, this is expected to foster market growth. For instance, in June 2021, Indian banks such as SBI, HDFC Bank, ICICI Bank, and 12 others have come together to further widen the blockchain application for the processing of Letters of Credit (LCs/LoCs), GST invoices, and e-way bills. The project is expected to use Infosys’ Finacle Connect, a blockchain-based platform that enables digitization and automation of trade-related finance processes. For this to be implemented, the 15 banks have formed a company called Indian Banks’ Blockchain Infrastructure Co Pvt Ltd (IBBIC).
Browse the full report description of “Blockchain Distributed Ledger Market Size, Share & Trends Analysis Report by Enterprise Size (Large Enterprises, and Small & Medium Enterprises) by Application (Payments, Smart Contracts, Supply Chain Management, Compliance Management, Trade Finance, and Others), and by End User (BFSI, Government & Public, Manufacturing, Retail & E-Commerce, Media & Entertainment, Transportation & Logistics, Healthcare, Energy & Utilities, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/blockchain-distributed-ledger-market
Moreover, the several key producers of blockchain distributed ledgers such as Blockstream, Coin Sciences Ltd., and Well Fargo are expected to increase their footprint through joint ventures and mergers. In December 2021, Wells Fargo partnered with HSBC to use its blockchain tools for the settlement of bilateral foreign exchange (FX) transactions. By using the HSBC-developed FX Everywhere platform settling three million transactions to date worth $2.5 trillion. Furthermore, in January 2022, Google Cloud announced a new digital assets team to support the customers’ needs in building, transacting, storing value, and deploying new products on blockchain-based platforms. The Google Cloud team provides several short- and long-term initiatives to support companies in the digital assets/blockchain ecosystem, this includes node hosting, remote procedure call (RPC), hosting several public BigQuery databases, including bitcoin, Ethereum, bitcoin cash, Dash, Litecoin, Zcash, Theta, Hedera Hashgraph, Band Protocol, IoTeX, Polygon, XRP, and Dogecoin.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2021-2028
• Segment Covered-
o By Enterprise Size
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape includes- Depository Trust & Clearing Corp., Digital Asset Holdings, LLC, Elrond Network, Enterprise Ethereum Alliance, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Blockchain Distributed Ledger Market– Segmentation
By Enterprise Size
By Application
By End-User
Global Blockchain Distributed Ledger Market by Region
North America
• US
• Canada
Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
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