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Blockchain technology is being used increasingly in the Banking Financial Services and Insurance BFSI segment for financial transactions and cross-border payments. In the banking and financial sector, it is utilized to secure payments, maintain customer identities, settle cross-border payments, etc. Blockchain technology is also employed in the healthcare sector, supply chain management, energy, media, informatics, etc.
BFS,I however, holds the largest share while Blockchain in retail industry under supply chain management is the fastest growing sector.
The Blockchain Technology market is further classified into three main types based on its users' accessibilities - Public Blockchain Technology, Private Blockchain Technology and Mixed Blockchain Technology. Public Blockchain technology rules the roost. The US dominates in Blockchain patents application. About half of the total Blockchain patents applied are primarily for financial applications.
For more information about this report visit https: March 29, Key growth factors Financial Technology FinTech companies are planning to invest a part of their total investment in the distributed ledge technology, i. The decentralized nature of the technology attracts the banking sector to adopt it. The Blockchain technology market is expected to exhibit swift growth owing to less time consumption and its transparent nature that also requires less transaction costs. Threats and key players Even though the Blockchain market is expected to grow globally, there still a lack of awareness, regulation problems and clashes of ideology that hinders its adoption.
Executive Summary Chapter 2: Blockchain Technology Market Overview Chapter 4: Regional Overview Chapter 5: Segmentation Overview By Industry Chapter 6: Segmentation Overview By Type Chapter 7: Patent Analysis Chapter 8: Log In Sign Up.