Global Blockchain Market is estimated to grow with a CAGR of 82.40% during the forecast period
The global blockchain technology market size was valued at USD 3.5 billion in 2020 and expected to expand to USD 20.98 billion at a compound annual growth rate (CAGR) of 19.8%. In the field of information technology, blockchain has emerged as a very promising technology. It's an open, immutable, distributed public ledger that can be accessed by several parties involved in the transaction and serves as a central repository for all transactions between them. One of the primary factors driving market expansion is the growing popularity of bitcoin around the world. Blockchain technology is currently being used by commercial and central banks all over the world to process payments and issue digital currencies. In comparison to previous systems, the technology allows for less expensive and speedier cross-border payments. The report " Global Blockchain Market, By Application (Payments, Clearing and settlement, Digital identity, and Documentation), By End-User (Banking Sector, Insur...