According to the The “Global Blockchain Market 2021-2026” report by Research and Markets, The global blockchain market should reach $56.7 billion by 2026 from $6.0 billion in 2021 at a compound annual growth rate (CAGR) of 56.9% for the forecast period of 2021 to 2026.
The report examines how the blockchain market is changing and how it has evolved. This analysis includes a detailed survey of new organizations in the market as well as existing organizations. At the industry level, the publisher identifies, examines, describes, and provides global and regional market sizes for 2020 and forecasts demand from 2021 through 2026.
Blockchain technology has the capability to reduce the costs associated with verifying customer transactions and thus improve access to financial services. The adoption of the technology is based on factors such as the ability of players in the market to adopt and develop this complex technology, to offer the product at an affordable price, and to secure support from the government. Early use cases of blockchain were seen in financial institutions as value-added applications were developed on the existing blockchain functionalities. In recent times, venture capital firms have been investing in startups developing blockchain technologies.
Increasing Fintech spending and venture capital funding in the technology, growing demand for blockchain technology in retail and supply chain management, and a digital transformation in the manufacturing and BFSI sectors are some of the key factors driving the growth of the current blockchain market.
However, network privacy and security concerns, as well as an unsettled regulatory environment, are hindering the market’s growth. Apart from these drivers and restraints, the increasing acceptance of blockchain solutions for payments and smart contracts; the advent of AI, and the sizeable use of blockchain solutions in banking, cybersecurity, and IoT; and the rising number of blockchain start-ups will create huge opportunities for vendors in this market.
In this report, the global market blockchain has been segmented based on organization size, component, provider, type, industry, and geography. Based on organization size, the blockchain market has been categorized into SMEs and large enterprises.
Clean, Limitless & Continuous Power to be Built Using "Modified Blockchain" on a Far Field Wireless Charging Platform
Voice Life Inc. with its Far Field Wireless Charging Platform and Verge Currency with its open source blockchain community driven cryptocurrency “XVG” and are entering into a Memorandum of Understanding (MOU) with a Decentralized Autonomous Organization “DAO” “rLoop”.
Under the terms of the MOU, Voice Life, Verge and rLoop will work collectively on expanding the Voice Life’s Far Field Wireless Charging Platform. The goal is to create and build a novel far field wireless transmission for a continuous, clean and limitless charge to smart phones, IoT devices and autonomous vehicles.
Robert Smith founder of Voice Life, when asked about the technology said “The recent advancements in blockchain technology and the energy markets are all converging. I believe that the expansion of the Far Field Wireless Charging Platform with the involvement of Verge and rLoop is creating a major disruptive technology advancement.”.
Justin Vendetta, the creator of Verge, when asked about the development, “said he was ecstatic, it’s snowballing and gets bigger and bigger every day. Bridging the community behind Verge Currency, with the technology of Voice Life and the engineering capabilities of rLoop, combines the passion, distribution and expertise needed to produce tomorrow’s world energy supply”.
“For our DAO to join forces with a community project like Verge, and Partner Voice Life, it brings the rLoop future of work platform towards an electrifying tomorrow, where we get the opportunity to build the next generation of energy transmission.” said rLoop co- founder Ilyas Vali.
About Voice Life Inc.
Voice Life Inc. was founded on March 12, 2015 as a technology company focused on the development, integration, and application of delivering a fast-wireless charging solution to mobile devices. The developer of ground-breaking leading-edge technology based upon a terahertz-based scalable network designed for far field wireless charging, is creating the next advancement in the capability to charge, maintain use and availability of smartphones and other electric-based products and devices. To find out more visit Voice-life.com
IBM and R3 Join Forces to Expand Blockchain Capabilities and Services across Hybrid Cloud
IBM (NYSE: IBM) and R3, an enterprise software firm, today announced a new collaboration to formally expand choice for clients scaling blockchain technology while delivering their highest levels of performance, compliance and data privacy.
As part of the collaboration, R3 announced a new open beta program to bring R3’s enterprise blockchain platform, Corda Enterprise, to IBM LinuxONE next month across the hybrid cloud—both on-premises and the IBM Cloud—delivered via IBM Cloud Hyper Protect Services. The R3 on IBM LinuxONE beta program will open on November 2, 2020 and be available on IBM Cloud and on-premises. General availability (GA) is expected in Q1 2021.
Enterprises, especially those in regulated industries, are increasingly looking to build blockchain solutions with advanced security and data privacy features while addressing performance. For clients with highly sensitive data and workloads such as digital identity, digital assets, central bank digital currencies, tokens, payments information, or smart contracts being spread across hybrid cloud environments, IBM LinuxONE provides a highly secured platform certified to meet the highest level of security certification commercially available.1
IBM LinuxONE and IBM Cloud Hyper Protect Services provide customers with Confidential Computing capabilities, including ‘Keep Your Own Key’ workload isolation encryption capabilities backed by FIPS 140-2 Level 42 certification, tamper protection from privileged user access and encryption of all data at-rest and in-flight, making the IBM public cloud the industry’s most secure and open public cloud for business.
“In keeping with IBM’s efforts to bring choice to clients in the era of hybrid cloud, we support an open ecosystem of blockchain providers. Bringing R3 to IBM LinuxONE is another exciting example of leveraging our highly secured Confidential Computing capabilities to help our clients of all sizes, across any industry, protect their most sensitive data across the hybrid cloud,” said Ross Mauri, GM of IBM Z. “This announcement builds on the exciting work over the last several months to welcome new workloads to LinuxONE and IBM Cloud Hyper Protect Services in emerging areas like blockchain and digital asset custody – and we’re looking forward to taking this next step with R3 to build on this momentum with clients of all sizes from early stage startups to the largest global enterprises.”
“The infrastructure of financial markets will be rewritten in the next few years, with new technologies bringing a complete shift in how services are created and delivered. While underlying technologies emerge in several areas like blockchain—security, robustness and scalability of new solutions remain critical aspects of any new development. As one of the few custodians integrating public and permissioned blockchains within a universal blockchain platform, it’s an honor to be part of this alliance to work with R3 and IBM to bring new solutions to market designed to facilitate the institutional adoption of digital assets at scale.” Alessio Quaglini, CEO and Cofounder of Hex Trust, a joint IBM and R3 client.
As the hybrid cloud market opportunity for blockchain continues to grow, IBM Services is also expanding their existing Corda capabilities by establishing a R3 center of excellence. This is intended to provide services to IBM clients that have or plan to adopt R3 solutions, including trained and Corda-certified solution architects, strategy and design consultants, subject matter experts (SMEs) and a delivery pool that can quickly engage to help them advance their network and solution deployment.
“This center of excellence is being designed to innovate and incubate client-requested ideas and use cases leveraging IBM’s deep expertise in developing and standing up commercially available production grade blockchain networks,” said Jason Kelley, General Manager, IBM Blockchain Services. “We will use IBM methods, including design thinking, to focus efforts on developing interoperability solutions for disparate blockchain networks, digital assets and currencies and industry-focused use cases.”
As part of this effort, IBM plans to work with clients across industry ecosystems, in both buyer and supplier roles, across hybrid ecosystems, underpinned by the openness and security of IBM LinuxONE, with the goal of advancing a network of networks to a hybrid of hybrids.
IBM Services, along with infrastructure support on IBM LinuxONE for R3’s Corda Enterprise platform, will complement IBM’s existing blockchain services and offerings to bring even more choice to the market. IBM Blockchain Services provide organizations a range of opportunities to access valuable new channels, strategic partnerships and resources to accelerate growth.
“Corda Enterprise and IBM LinuxONE bring together IBM’s best security, efficiency and scalability features in blockchain and hybrid cloud. The result is assurance that customers can run their most sensitive workloads with transparency and flexibility,” said David E. Rutter, CEO of R3 “Blockchain is fast emerging as the technology of choice to drive digital transformation and R3 and IBM will provide access to the privacy and security inherent in blockchain technology underpinned by IBM LinuxONE. This combined with the deeply knowledgeable team within IBM Services’ new R3 center of excellence, can empower customers to level up their digital transformation drive.”
VeChain Introduces New Blockchain-enabled Sustainability Solution To Power "Green Business" For Enterprises
As consumer behaviors shift towards greener and more sustainable products due to climate change awareness, companies are increasingly looking to integrate a more sustainable approach to their businesses. Market-leaders such as Nike, Adidas, H&M & Amazon are already placing sustainability at the forefront of their global product and marketing strategies.
To help companies digitalize and increase efficiency for sustainable business practices, VeChain, the leading enterprise friendly blockchain platform, officially launches its Blockchain-enabled Sustainability Solution. The solution is built on its one-stop data Blockchain-as-a-Service (BaaS) platform VeChain ToolChain™.
BlockChain + Sustainability: Ensuring Trustworthy Long-term Efficiency & Profitability For Brands
Research by The World Economic Forum has shown that the risks for companies will grow due to both the direct impact of climate change on business operations and supply chains. There have been corresponding demands for transparency on sustainable activities, with financial regulators, policymakers proposing mandatory climate risk disclosure legislation, and litigation against companies failing to disclose climate risk.
In the meantime, the majority of customers are demanding more sustainable products from brands, showing strong willingness to change their purchasing habits to help reduce negative impact to the environment, especially among Generation Z. These customers are also inclined to buy products that have a clearly defined sustainability policy.
VeChain’s Blockchain-enabled Sustainability Solution centers on building a value-driven approach for businesses to streamline sustainable practices during the supply chain and manufacturing process. Blockchain technology allows businesses to reliably and accurately showcase their sustainable practices not only to consumers, but financial regulators and policymakers.
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