On March 20th, 2018, G20 countries gathered in Buenos Aires to discuss the possible regulation of cryptocurrency. Argentina, Australia, Turkey, South Africa, and the United Kingdom proclaimed that they decided not to regulate cryptocurrencies. and At the same time the Head of the Bank of England ‘Mark Carney’, who was a chairman of G20’s Financial Stability Board has mentioned that crypto-assets will not pose risks to global financial stability at present time citing the relatively small capitalization of the market.
The article cited AMA's "Global Blockchain Technology Market Study" explored substantial growth of %. According to the report, Increased use of Smart Contracts using Blockchain Technology
is one of the primary growth factors for the market. Use of Blockchain Technology Provides Enhanced Security and Transparency
is also expected to contribute significantly to the Blockchain Technology market. Overall, Payments
applications of Blockchain Technology, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Blockchain Technology market identified that the demand is rising in many different parts of the world as "Enormous Opportunities across Multiple Application Arenas such as Financial, Healthcare and Public Sector
". Furthermore, some recent industry insights like "Since the information technology in cryptocurrencies and blockchain boom, a number of global enterprises were either silent or negative towards cryptocurrencies and blockchains. But as a large number of people investing in the crypto market and the rapid growth of the industry is now undeniable, enterprises are facing the important decision to not lose time and get serious about cryptocurrencies. IBM's new head of Blockchain development, Jesse Lund has said that the company will see tons of demand for digital asset issuance across the board. This news indicates a lot of IBM's interest in the cryptocurrency market and the fact that there are central banks with plans of digitizing their monetary system." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Blockchain Technology market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Blockchain Technology market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Blockchain Technology market size is calculated using market estimation process, the Blockchain Technology market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Blockchain Technology market size has been validated using both top-down and bottom-up approaches.