Blockchain Technology Market report provides a detailed analysis with present and upcoming Opportunities to clarify the future investment in the market. Global Blockchain Technology industry report segments facts about key drivers, challenges and Opportunities with impact analysis.
Blockchain Technology market report includes definitions, classifications, types, applications and industry chain structure, development trends, competitive landscape analysis, and key regions development and vendors in Blockchain Technology Industry.
Blockchain Technology Market Vendors: Accenture, IBM, Microsoft, Axoni, Abra, BTL Group, BlockCypher, BitFury Group, Chain, ConsenSys, Deloitte, Ethereum, and many more
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“One trend in the Blockchain Technology market is the advent of artificial intelligence (AI). BT powered by AI is the most advanced IT development taking place in the blockchain and cryptocurrency market. AI provides several features to manage decentralized monetary systems. AI algorithms can be used to predict the value of bitcoins, which can help bitcoin traders to manage bitcoin transactions. In 2014, a researcher from Massachusetts Institute of Technology (MIT), US, developed a methodology to detect the price trend of cryptocurrency. The methodology uses machine learning algorithm to analyze the pricing trend of cryptocurrency to perform online trading of the currency to obtain maximum benefits. IBM has created its new business unit known as industry platforms to focus on the development of advanced BT. The R&D division of IBM is working to integrate AI technology and BT to help its blockchain clients manage distributed ledgers efficiently.
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According to Blockchain Technology market report, one driver in the market is the increase in FinTech spending. FinTech is a service provided by companies and is based on software. Over the years, the purview of FinTech has extended to include new and innovative front-end consumer products. Many FinTech startup companies provide solutions, which are operable through smartphones or tablets, directly to the customers through licensing or by means of white label services.
Further, Blockchain Technology market report states that one challenge in the market is the network privacy and security concerns. Blockchain security is one of the major concerns that have hindered the growth of the Blockchain Technology market. In 2016, Ethereum, a provider of blockchain-based distributed computing platform solutions, faced decentralized autonomous organization (DAO) attack, a type of cyber-attack that caused Ethereum to lose nearly $55 million in cryptocurrency. The Ethereum system hack instance has discouraged several cryptocurrency traders and BT users.
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