E Blockchain Industry Builds On Impressive Q4, Continues To Grow

Microsoft is now in association with R3, a leading DLT R&D company that leads a consortium of more than 100 members, also including Accenture, EY, KPMG, Intel, and more.

Sound promising? Analysis by independent research firm Tractica estimates that annual revenue generated by global enterprise blockchain activity will increase with a 26.2%. compound annual growth rate over the coming years. Such an occurrence would mean a jump from approximately $2.5 billion in 2016 to a staggering $19.9 billion by 2025.

The impact that blockchain technology is having on the business world is beyond question. From marketing initiatives and financial reporting to commerce on the largest levels, DLT is helping streamline transactions and optimize commercial efforts. For example, the current lifecycle of asset trading includes many, many steps – DLT will likely be able to significantly cut down the process.

Current issues with regards to ownership rights for property, art, and more are also likely be rectified through blockchain projects. A Grant Thornton article explains, “Blockchain technology can play a crucial role to mitigate this situation by providing clarity to copyright authors, owners and users. By registering their works via blockchain, authors could end up with tamper-proof evidence of ownership. This is because a blockchain transaction is immutable, so once a work has been registered to a blockchain, that information can never (or it would be overwhelmingly difficult for same to) be lost or changed.”

Taking a moment to peel back all the disruptive applications, blockchain at its core is truly about the optimization of data storage and management. The trust and efficiency that DLT is offering to institutions and individuals alike in how they interact with their data is what truly makes the technology so groundbreaking.

“Blockchain technology is introducing an unprecedented ability to create synergy between data system, data security and the data itself,” said Serge Beck, CEO and Founder of Optherium Labs, a blockchain-based financial security company. “As people start to utilize and value their data in increased amounts, the breakthrough of distributed systems will prove invaluable to how personal and institutional information is managed.”

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Nathan Feifel 1 year ago Author's comment