In terms of industry vertical, the banking, financial services, and insurance segment held the leading share of 41% in the global blockchain technology market in 2017. The segment will gain further impetus following the introduction of bitcoin. “Rampantly increasing cyber-attacks and frauds in the BFSI industry accounts for millions of dollars. This has become a global concern. To make the technology used in the industry safer and more secure, Deloitte and Microsoft Azure and other tech giants are offering blockchain services,” said a lead analyst.
Below I'll cover some uses cases for blockchain tech, as well as questions you should ask if you're considering blockchain solutions for your business.
While the state of play may look a little bleak, the good news is that there is lots of scope for innovation. A business that can offer personalised, hassle-free loyalty experiences and help their customers reach redemption targets will have a competitive advantage over those still stuck in the past.
The art world has not been left behind in as far as blockchain technology is concerned. The art world is exploring in what ways the blockchain technology can revolutionize this sector.
The release from Constellation explained: “Multi-domain, cross-service stakeholders are disbursed, disconnected and complicated and the data created by each domain is either non-accessible or requires significant manpower to handle data forensics, planning, and collection.”
According to Frank Ricotta, CEO of BurstIQ, the future of healthcare will be driven by data, and blockchain technology is the enabling foundational technology.