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  • 23 May 2019 00:02

Blockchain Distributed Ledger Technology Industry is Transforming: Report Says

Block chain Distributed ledger technology was first used in banking sector and remains one of the major sectors using this technology. Block chain facilitates the data transfer in a safe, secure and transparent manner.

Some of the major factors behind these projections include the increased acceptance of the block chain technology in order to facilitate quick transaction.

The major factor driving the block chain distributed ledger technology market is the rising implementation of this technology in the banking sector. In addition, the adoption of block chain distributed ledger technology across the public &government also supports the growth of the market. Also, the advantages offered by the block chain distributed ledger technology such as low cost of transaction, reduction in the chances of thefts, and an increased secrecy compared to other electronic payments methods drives the market globally. However, the market growth for block chain distributed ledger technology is likely to be hampered due the lack of awareness regarding the advantages of cryptocurrency in emerging economies such as Asia Pacific and Latin America.

Some of the key players profiled in the report include Deloitte, IBM Corporation, Accenture, Microsoft, Capgemini, Touche Tohmatsu Limited, Global Arena Holding, Inc., Block chain Tech Ltd, Digital Asset Holdings, Ethereum, BitFuryUsa Inc., Chain, Inc., Coinbase Inc., and Abra, Inc. Most of the key players are investing heavily on research & development in order to enhance the features of the block chain distributed ledger technology so as to make it user friendly.

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