Fintech Blockchain Market to Reach $8.3 Billion By 2024: Report
The market for fintech solutions based on blockchain technology will rise from $204 million in 2017 to $8.311 billion in 2024.That’s the bottom line from Zion Market Research, as outlined in its report FinTech Blockchain Market by Provider, by Application, by Organization Size, and by Vertical: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024.
The hefty report sheds light on the future of the fintech blockchain market. Zion believes the market will grow at a compound annual growth rate of about 69.72% from 2018 to 2024.
The report points out how fintech offers innovative financial solutions because it reduces operational costs and makes it convenient for consumers and organizations to manage funds. Fintech often works through distributed ledgers such as blockchain, and this new technology is already starting to play a major role in the finance industry. Blockchain makes it easy to do things like make mobile payments and start crowdfunding campaigns, which means financial institutions can benefit from implementing it in their organizations.
Through distributed ledger technology, financial service providers can lower the cost of cross-border payments, compliance, and securities trading, and this technology can be used by private organizations and individuals who wish to build private financial networks. It supports cryptocurrencies such as bitcoin, litecoin, and others and helps make them secure.
In the report, both global and regional market trends and predictions are covered, and the study provides historical data for 2015–2017 along with a 2018–2024 forecast based on revenue. Drivers and restraints for the fintech blockchain market are included, and the report also includes a concise analysis of current investment opportunities.
Albert Einstein is said to have identified compound interest as mankind’s greatest invention. That story’s probably apocryphal, but it conveys a deep truth about the power of fiscal policy to change the world along with our daily lives. Civilization became possible only when Sumerians of the Bronze Age invented money. Today, economic issues influence every aspect of daily life. My job at Fortunly is an opportunity to analyze government policies and banking practices, sharing the results of my research in articles that can help you make better, smarter decisions for yourself and your family.
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