Blockchain technology is showing signs of its revolution all over the Europe. Governments are showing major interest for decentralized databases by testing pilot versions of blockchain based voting platforms and identification systems – to name a few. Regulations and taxations are being negotiated between the decision makers across the continent, and the markets are projected to grow within the next few years.
The “Europe Blockchain Technology Market (2018-2024): Market Forecast by Technology Types, by Applications, by End-Users, by Countries, and Competitive Landscape” is an interesting clinch of the Europe Blockchain Technology market, which is expected to grow during the upcoming years of 2018-2024, at a CAGR of 52.%. The report is offered in the researchandmarkets.com website.
According to the research, In 2014-2017, the European blockchain market made a great growth among the following sectors; Government, public sector and BFSI. The segment of real estate has also shifted to the direction of decentralized ecosystem, as the blockchain technology enables the constant sharing and recording of information making the process more time-affective and decreases the fraud risks.
Companies such as Microsoft, N-iX, Digital Asset holdings, Bitfury, Limechain, IBM, Intellectsoft and R3 are one of the main influencers for the expected rise of the industry.
Countrywise, Switzerland as the country of Crypto valley and developer of various blockchain projects is holding the major part of the market share in Europe. “The Blockchain Island” – Malta is also anticipated to affect the growth as it holds a position of being a headquarter for couple giant company offices. Overall, the forecast is showing a big green light for the Europe’s decentralized future.
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Author: Sarah Tuuli