(MENAFN- America News Hour) United States Blockchain Technology Market
It is a continuously growing list of blocks (records) that are linked and secured using cryptography. Each new block created is connected to the previous block via a 'cryptographic Hash,' . The U.S. is expected to hold more than half of the North America Blockchain technology market. The U.S. Blockchain technology market is expected to register double-digit growth during the forecasted period (2017-2023).
Blockchain technology is used to record Bitcoin transactions via a global network of computers. The United States is expected to hold 40% of worldwide investment in Blockchain technology. Based on industries, banking and financial Services sector led the U.S. Blockchain technology market in 2017. The U.S. And will continue to finance Blockchain technology, and will spend heavily on financial assistance, and manufacturing sectors.
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The country is looking forward to increasing the application of Blockchain technology across various domains, to improve the efficiency of the existing operation and also creating new action. This factor is expected to created new streams of revenue. The government is trying to utilize the advantages of Blockchain technology. The United States Postal service (USPS) is planning to backup data using Blockchain technology. Other U.S. organizations like the Food and Drug Administration, and the U.S. Department of Defense Transportation have shown interest in Blockchain technology.
In a move to further accelerate the adoption of Blockchain, the state of Delaware has passed amendments for equity markets, allowing companies to issue and trade shares via a Blockchain-based platform.
Key growth factors
- Several States of United States are advancing towards legalization of Bitcoins. Various crypto-friendly bills have been introduced with the approval of state legislatures. This factor is expected to drive the Blockchain market in the United States
- Private investment funding in the United States plays a major role in the evolution of Blockchain technology in the banking and financial sector
Threats and key players
- The key factor that is restraining the market growth is the lack of technical skill
- The legacy system in the United States hinders the entry of fund needed to finance Blockchain innovation and utilization of the technology
What's covered in the report?
- Overview of the United States Blockchain Technology Market
- The current and forecasted market size data for the United States Blockchain Technology Market
- The current and forecasted market size data for the segments of the market, by industries- BFS (Banking and Financial services), Insurance, Supply Chain, Healthcare, others
- Market trends in the United States Blockchain Technology Market
- Market drivers and challenges in United States Blockchain technology market
- Analysis of company profiles of the major players operating in the market
Why buy?
- Get a broad understanding of the United States Blockchain technology market and its segments- by industries
- Get region-specific drivers and challenges affecting the United States Blockchain Technology Market?
- Recognize significant competitors' business and market dynamics, and respond accordingly
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