Blockchain is bringing a radical change in the business world with its characteristics of decentralization, immutability, transparency, and distributed ledger.
From news channels to social media platforms and office group discussions, blockchain has remained the hottest topic for past some years now. And still, there’s no sign that the noise around the blockchain and cryptocurrencies is going to die down anytime soon. And so, we are here with this blockchain app development guide to help you with all the major technical and business aspects of the technology.
With lots of fans and critics, blockchain technology news, with its apps and blockchain development tools are growing in popularity to unimaginable heights. It is becoming the buzzword where even a normal company changing its name and business model according to the blockchain hype is leading to higher profits.
Have any doubt? Let’s clear out!
A UK based organization, On-Line PLC gained significant traffic, higher proposals from investors and share price surge by 394% by just changing its name to On-Line Blockchain PLC.
We know it can be hard to digest? Just have a look at these statistics then,
- In 2017, the blockchain market was about $339.5 billion in size whereas it is forecasted to cross $2.3 billion by 2021.
- According to statistics by Dot Com Infoway, the global blockchain market is expected to be worth $20 billion in the year 2024.
- According to Grand View Research, the global blockchain technology market size was valued at USD 3.67 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 82.4% from 2021 to 2028.
- There will be 42.8% blockchain growth per year till 2022 and the main catalyst behind this upliftment will be blockchain adoption in money exchange and growing interest of world’s top banks in creating cryptocurrencies like Utility Settlement Coin (USC) to ensure better cross-border transactions. [Know in detail about this here.]
- 71% of business leaders using blockchain, as a report, believe that it will play a pivotal role in advancing the technology, resulting in widespread support for industry standards.
Learn about how a blockchain development company actually works and understand the concept in a better way.