What is blockchain primarily is a ledger which can be shared, and happens to be immutable that aid in the completing the process of recording transactions along with keeping a track of any business’ assets. These assets can be tracked and traded on a blockchain network, that lowers associated risk with it. The blockchain technology is witnessing rise in popularity owing to its efficacy in helping businesses operate through accurate information. This technology is perfect for delivering that business information because it grants instant, shared and fully transparent information that is stored on an immutable ledger and can be accessed only by permissioned members of any organization or network. By integrating blockchain technology, any organization can track payments, and many other things. The blockchain technology helps in saving time and efforts on duplicating record keeping and validations from the third parties. It also provides security from any cyberattacks. Meanwhile web 3.0, is the concept of the next generation of the web, where numerous users will be linked via a decentralized network and can access their own data. This is the reason why the global web 3.0 blockchain market is rampantly growing.
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The global web 3.0 blockchain market saw rampant growth in the period of the coronavirus. People became more concerned about changing economic situation of the globe and understood the importance of investing. Cryptocurrency was the number one choice of majority of people across various parts of the planet, especially those tokens and coins with less value. One of the biggest factor that has been driving the growth of the global web 3.0 blockchain market is its high-end security feature. This is utterly important in today’s times, especially when number of cases related to data breach are growing. Meanwhile, the growth of the global web 3.0 blockchain market will be hindered owing to rising concerns of misuse of this technology, as the data stored is likely to be extremely sensitive and valuable. On the other hand, the global web 3.0 blockchain market will be seeing humungous growth over the period of next couple of years due to rising popularity of non-fungible tokens (NFT) and cryptocurrency. Large number of people are finding the market lucrative in terms of investment perspective.
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Key Takeaways of the Report:
- On the basis of the type, the global web 3.0 blockchain market is segregated into public, private, consortium and hybrid. The hybrid segment is expected to mint money at the fastest rate for the market. With certain features that are open for public, it will become more popular, while the private features will ensure that it remains secure and exclusive.
- On the basis of the end-use, the retail & e-commerce segment is forecasted to make money at the fastest rate for the global web 3.0 blockchain market over the period of next many years. This will be because growth in the number of e-commerce websites of those developing their own NFTs and coins, that have higher utility value.
- The region of Asia Pacific is expected to accumulate majority of money that too at exceptional speed for the global web 3.0 blockchain market over the period of next couple of years. Trade hubs like India and China are focusing on developing their own coins and NFTs and hence promoting this technology so that giant technology companies showcase their interest in it. Favorable laws and regulation will also help the market grow.
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Global Web 3.0 Blockchain Market Participants:
- Alchemy Insights, Inc
- Coinbase Inc
- Kadena LLC
- Polygon technology
- Web3 Foundation (Polkadot)
- Other Industry Participants
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Global Web 3.0 Blockchain Market:
- Conversational AI
- Data & Transaction Storage
- Smart Contracts
By End Use
- Transport and Logistics
- Banking, Finance and Insurance Services
- Retail & E-commerce
- Media & Entertainment
- IT & Telecom
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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Blockchain As A Service (BaaS) Market – https://www.absolutemarketsinsights.com/reports/Blockchain-as-a-Service-BaaS-Market-2021—2029-882
Blockchain Technology Market – https://www.absolutemarketsinsights.com/reports/Blockchain-Technology-Market-2019-2027-460
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