PROMOTED RESEARCH: The costs and complexity of implementing blockchain technology will mean that the excitement surrounding it will recede this coming year, and many projects will either be put on hold or swapped out in favour of an operation which does not rely on the technology.
GlobalData’s newly published report ‘Blockchain – Thematic Research’ exposes that while the market is inundated with absurd claims about the advantages of blockchain technology, there are some key domains where the ability to execute distributed transactions without depending on a single central authority will bring momentous value.
By 2025, blockchain technology will have lost much of its gloss; however it will be a fundamental part of business processes by then; especially those involving multiple, disparate, participants.
What is Blockchain?
In short, Blockchain is an electronic ledger of transactions that are incessantly retained in blocks of records. The ledgers are mutually held and run by all participants. Coupled with cryptographic security, this in theory makes them tamper-proof.
The report evaluates:
- Key players, leaders and players looking vulnerable within the Blockchain industry
- Main trends to expect over the next 2 years
- Primary use cases in a varied range of sectors, including financial services, industrial sector supply chains, and parts of the software sector
Gary Barnett, Chief Technology Thematic Research Analyst at GlobalData comments:
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‘‘We are entering a new period in the advancement of blockchain technology; over the next 2 years the more outlandish claims made by proponents of blockchain will be debunked and technology providers and users alike will begin looking with clearer eyes at the constricted but significant set of use-cases where blockchain and distributed ledger technology can add real value.’’
GlobalData’s latest report will help to develop your understanding of the industry; it examines the value chain and uses scorecards to classify leading companies in the sector in addition to providing a technology briefing to understand the mechanism in place for transactions to happen.
If you would like any more information on this report, please visit the GlobalData Report Store.