New blockchain technology research reveals value potential for emerging markets

  • Date: 06-Jun-2023
  • Source: Zawya
  • Sector:Technology
  • Country:UAE
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New blockchain technology research reveals value potential for emerging markets

Dubai, UAE: Agile Dynamics, a research-based consultancy service that helps businesses to better understand and harness the potential of new technologies to achieve digital transformation, has announced the launch of its latest research paper. Entitled 'Disrupt and Innovate: Harness the Power of Blockchain', the paper examines how to unlock growth via layer 1 blockchain protocols, focusing in particular on the advantages for emerging markets.

Amongst other insights, the research reveals that customised layer 1 blockchain protocol offers potential benefits such as increased financial inclusion, reduced transaction costs, and improved transparency - all of which align with the concept of technology sovereignty. It empowers entities to have ownership and control of their data, while safeguarding their sovereignty, reducing dependence on external entities, being more competitive on the global stage, and both encouraging and supporting domestic technology companies.

With multiple applications across all sectors, and as a driving component of Web 3.0 technologies, blockchain has proven to be massively valuable to the global economy. It is estimated that blockchain technology will boost global gross domestic product (GDP) by US$2.1 trillion of the projected global GDP in 2030. Approximately half (49%) of the US$2.1 trillion will come from growth markets.

As of 2023, estimated global ownership