How big is the market value of the block chain? It is noteworthy that the global market value of the block chain market will increase 29 times over the next five years. Monica Eaton-Cardone, an expert on pin-tec, analyzed the market for block chaining based on sex devices currently estimated at $ 8,000 to $ 2023 billion. A figure of $ 2.3 billion by 2023, so the annual growth rate of 96.4 percent comes from market reports released by Market & Market in June.
She is co-founder and CIO of Global Risk Technologies specializing in risk mitigation in the global payment industry. It is also the COO of Chargebacks 911 (Chargebacks911) dealing with counterfeiting of credit card fraud.
She says analysis shows that the block chain and distributed led technology DLT will be accelerated across the retail industry. The analysis includes supply chain management, inventory management, reliability verification, automatic update, subscription service, customer data and loyalty program. Supply chain management, for example, cited Wal-Mart and IBM’s large alliance in food tracking using block chains. It takes a week or more in a legacy system, but it can identify the shipment of agricultural products in just 2.2 seconds.
The introduction of block chains across the industry on a global scale also reveals several important challenges to be addressed in the future. Data privacy or relationships with new laws or regulatory frameworks. But there are positive signs of a leading industry effort, including Wal-Mart, Carrefour, De Beers and Amazon.
On November 28 (local time), Amazon announced the launch of two product blocks based on the Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain (AMB). For more information, please click here .