Blockchain in Small and Medium Businesses Market Estimated to Reach $4.5 Billion Mark by 2026 – MENAFN.COM

  • Date: 23-Apr-2021
  • Source: MENAFN
  • Sector:Economy
  • Country:Middle East
  • Who else needs to know?

Blockchain in Small and Medium Businesses Market Estimated to Reach $4.5 Billion Mark by 2026 – MENAFN.COM

(MENAFN - GetNews) Growth in Demand for Increased Scalability, Transaction Speed, and Reduction in Processing Costs Driving the Growth of Blockchain in Small and Medium Businesses Market. The global Blockchain in Small and Medium Businesses Market is estimated to surpass $4. 5 billion mark by 2026 growing at an estimated CAGR of more than 20. 59% during the forecast period 2021 to 2026. The Blockchain technology is mainly designed to enable the maintenance of a permission less distributed databases which consists of a growing list of data records that preserves the integrity, singularity and validity of the stored information, without involving any trusted third party for verification purposes. It has potential to protect the identities of the user that make Blockchain a more secure way to carry out transaction. With the modernization in every sector especially by digitalization of currency; Blockchain technology has penetrated deeply into all the industries verticals. The various industry verticals that use Blockchain technology include banking financial services & insurance (BFSI), information and communication, healthcare, logistics, supply chain & transportation, e-commerce and retail and others. Blockchain in Small and Medium Businesses Market Segment Analysis - By Product and Services Bitcoin-based payroll service can save both money