Global Blockchain Technology in BFSI Market Size, Status and Forecast 2022

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
One driver in the market is increasing government investments in blockchain technology. The increasing investments in blockchain technology by various governments across the world is a major factor driving the growth of the global blockchain technology market in BFSI sector. Countries such as the UK, Canada, Russia, and China are experimenting by placing their national currencies on the blockchain. One of the major factors hindering the growth of the global blockchain technology market in BFSI sector is the lack of trust in the blockchain technology. The growing adoption of blockchain technology by the BFSI companies in Europe, will drive the growth prospects of the blockchain technology market in BFSI sector in EMEA. As a result, this region will be the major contributor to the blockchain market by the end of the forecast period.

In 2021, the global Blockchain Technology in BFSI market size will be US$ million and it is expected to reach US$ million by the end of 2027, with a CAGR of % during 2021-2027.
This report focuses on the global Blockchain Technology in BFSI status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Blockchain Technology in BFSI development in North America, Europe, Japan, China, Southeast Asia, India, etc.

Global Blockchain Technology in BFSI Scope and Market Size
Blockchain Technology in BFSI market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Blockchain Technology in BFSI market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Public Blockchain
Consortium Blockchain
Private Blockchain

Segment by Application
Banking & Financial Services Industry
Others

By Region
North America
Europe
Japan
China
Southeast Asia
India

By Company
IBM
Microsoft
Amazon