Blockchain in BFSI is also called as FinTech blockchain. Wide dissemination of blockchain by financial organizations from the past years has witnessed rise in popularity of cryptocurrencies, and the initial coin offering (ICO).

As well as blockchain is panacea for all fintech companies digital concerns such as security. Blockchain as a technology was developed to serve as the public transaction ledger for cryptocurrencies, which uses distributed databases and cryptography to record transactions. This characteristic of blockchain provides a high level of safety while transmitting and storing data, open and transparent network infrastructure, decentralized ledger, and low cost of operations benefits. Moreover, blockchain in FinTech anticipates in changing the paper-intensive international trade finance process to a digital decentralized ledger.

Factors such as increase in need for transactions transparency and accountability, and greater adoption in cross-border payments drive the market growth. In addition, increase in investment by banks in blockchain-based solutions across the globe is also expected to boost the market growth. Moreover, increase in demand for distributed ledger technology and rise in cryptocurrencies market cap are also some of the factors that fuel the demand for blockchain solutions and services across global banks. However, scarcity of skilled workforce is expected to impede the market growth during the forecast period.

Request For Report sample @ https://www.trendsmarketresearch.com/report/sample/13284

Furthermore, growth in demand for increased scalability, transaction speed, and reduction in processing costs are expected to provide major growth opportunities for blockchain in BFSI market in the upcoming years. Also, rise in demand from developing economies for blockchain solutions is also anticipated to be opportunistic for the market growth.

The global blockchain in BFSI market is segmented based on component, application, organization size, industry vertical, and region. Based on component, the market is bifurcated into platform and services. Based on application, the market is divided into digital currency, record keeping, payments & settlement, smart contracts, compliance management, and others. Based on organization size, the market is classified into large enterprises and small & medium enterprises. Depending on industry vertical, the market is segmented into banking, insurance, and non-banking financial companies (NBFCs). Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the market. These include Alphapoint, Auxesis Group, Amazon Web Services, Inc. (AWS), Bitfury Group Limited., Hewlett Packard Enterprise Development LP (HPE), International Business Machines Corporation (IBM), Infosys Limited, Microsoft Corporation, Oracle Corporation, and SAP SE.

KEY BENEFITS The report provides an in-depth analysis of the global blockchain in BFSI market, outlining current trends, key driving factors, and potential areas for product investments. Key players are analyzed with respect to their primary offerings, recent investments, and future development strategies. Porters five forces analysis illustrates the potency of buyers and suppliers operating in the industry. The quantitative analysis of the global blockchain in BFSI market from 2018 to 2026 is provided to determine the market potential.

KEY MARKET SEGMENTS

BY COMPONENT Platform Services

BY APPLICATION Digital Currency Record Keeping Payments & Settlement Smart Contracts Compliance Management Others

BY ORGANIZATION SIZE Large Enterprises Small & Medium Enterprises

BY END USER Banking Insurance NBFCs

BY Region North Americao U.S.o Canada

Europeo Germanyo Franceo UKo Rest of Europe

Asia-Pacifico Japano Chinao Indiao Rest of Asia-Pacific

LAMEAo Latin Americao Middle Easto Africa

KEY MARKET PLAYERS PRofILED IN THE REPORT Alphapoint Auxesis Group Amazon Web Services, Inc. (AWS) Bitfury Group Limited. Hewlett Packard Enterprise Development LP (HPE) International Business Machines Corporation (IBM) Infosys Limited Microsoft Corporation Oracle Corporation SAP SE

More Info of Impact Covid19 @ https://www.trendsmarketresearch.com/report/covid-19-analysis/13284

Excerpt from:

Blockchain In BFSI Market Growth Analysis By Manufacturers, Regions, Types and Application Forecast - Kentucky Journal 24