World Blockchain Technology Market Trend, Size and Growth Report 2021 February 2017

ReportsnReports.com adds new research report Global Blockchain Technology Market 2017-2021.
This report covers the present scenario and the growth prospects of the global blockchain
technology (BT) market 2017-2021. To calculate the market size, the report considers the revenue
generated from the BT solutions and service providers.
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The following companies are the key players in the Global Blockchain Technology (BT) Market:
Accenture, IBM, and Microsoft.
Other Prominent Vendors in the market are: Axoni, Abra, BTL Group, BlockCypher, BitFury Group,
Chain, ConsenSys, Deloitte, Ethereum, Ezyremit, Global Arena Holding, Provenance, R3, Ripple,
Scorechain, Slock.it, and TATA Consultancy Services.
Global Blockcain Technology (BT) Market 2017-2021, has been prepared based on an in-depth
market analysis with inputs from industry experts. This report covers the market landscape and its
growth prospects over the coming years. The report also includes a discussion of the key vendors
operating in this market.
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One trend in the 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.
The study was conducted using an objective combination of primary and secondary information
including inputs from key participants in the industry. The report contains a comprehensive market
and vendor landscape in addition to a SWOT analysis of the key vendors.
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According to the 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, the 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
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