The volume of the market of the technology of the blockchain will reach $7.7 billion by 2024

A new report predicts that the volume of the market of the technology of the blockchain in the world $7.74 billion by 2024, and the main share of market growth will be in financial services.

"The technology of the blockchain is one of the most promising trends of the digital world", as reported by the company in San Francisco Grand View Research, which released the report.

The report predicts continued growth in the markets of USA and Canada (40.9%). China and India in the next eight years will account for 37.6% of the market due to the fact that the growing finansovyi sector starts adopting the technology of the blockchain.

"This technology not only will change the way the financial industry operates, but will also affect other areas, such as manufacturing, consumer goods, media, telecommunications," the report says.
The main players in the market of the blockchain
the report describes a large number of successful venchurnyh projects, especially noted of which Microsoft and Deloitte collaboration with a consortium of R3.

"Many players in the financial market looking for investment opportunities and some of them have already invested in developing products and services for industry", the report says. "Despite the fact that the market is struggling with legal uncertainty and security problems, in the next few years technology will become important when making financial transactions, as well as reaching out to other fields and disciplines."

Also there was a hint of other major companies that are active market players in the industry of the blockchain, which include IBM, Linux Foundation, Chain Inc., Circle Internet Financial, Ripple and many others.
The predominance of the public sector
The report also indicated that the public sector will dominate the future market of the blockchain due to the fact that "the government and other institutions also need open and efficient transaction. For example, the Australian stock Exchange announced that it would transfer the processing and verification of transactions on the platform the blockchain." According to the authors, the private network will be developed more carefully than the public sector, but will also significantly help in the next eight years to the development of the blockchain.
The report noted that the main factors that contribute to the market success of the blockchain is the willingness of the sellers and representatives of the banking, financial services and insurance to accept the cryptocurrency.

In a similar report, released around the same time, Transparency Market Research made another prediction that the market size of the blockchain technology will exceed $20 billion in 2024 (for comparison, it was $316 million in 2015).In this report predicts a cumulative growth rate to 58.7% by 2024.

Specialist blockchain Alex Tapscott, one of the authors of the book "the Blockchain revolution."

"One of the largest Central banks in the world is already testing the digital currency, and if testing goes well, all ready for its widespread adoption," stated the report.
We will add that the big banks are beginning to transfer a large number of transactions in the OTC market for private distributed registers to process transactions in real time. View on JPMorgan, Goldman Sachs, Barclays and Santander, which already adopted these changes. Both large and small companies in any market are beginning to master the technology of the blockchain, hiring talent and launching pilot programs."