A $4.47 million market worldwide in 2020, it is anticipated to grow rapidly to $83.3 billion in 2027 as central banks figure out how to use blockchain in their digital currency initiatives.
Worldwide markets are poised to achieve continuing growth as blockchain proves its value by managing digital transactions in real time across national boundaries, encouraging collaborative business efforts. Lowering transaction management costs is a key benefit.
Blockchain can be implemented in an IBM mainframe that is already a core technology for virtually every bank. Blockchain updates the security in transaction processing, implementing end to end encryption.
Government blockchain is used to implement Web 3.0. the ability ot transfer money as easily as people send an email. The question becomes, what does Web 3.0 look like? It looks like a distributed ledger system providing immediate currency exchange worldwide that mimics how the Internet is used to exchange e-mail. Web 3.0 features enhanced security added to a real time digital economic process.
The government blockchain market does not include what has been the biggest use of blockchain - to hide the money of criminals and terrorists - perform money laundering. After an inauspicious beginning, government blockchain has moved to digital currency, government blockchain is on the cusp of phenomenal growth, ready to reach $83 billion worldwide by 2027 as it creates new digital economic infrastructure.
ConsenSys acquired Quorum, the blockchain platform belonging to JPMorgan in a move that will solidify an ongoing relationship between the JPMC and ConsenSys. The-Quorum-blockchain is a premier transaction management system, settling $5 trillion in transactions per day.
The government blockchain market moves into rapid growth mode as the digital economy takes hold. As the banks and finance industry move into the modern age of real time transaction processing, blockchain is a core enabling technology for central banks. This market segment previously has been held back in part by the outdated aspects of the mainframe computing technology. IBM Blockchain and others are spurred by more modern ways to manage global transactions across national borders from IBM, Microsoft, and Accenture.
Blockchain is a type of distributed ledger system providing enhanced security to the real time digital economic process. Blockchain is comprised of blocks of digitally recorded data. The global market for blockchain at $4.47 billion in 2020 is anticipated to reach $83 billion in 2027. IBM, ConsenSys, and Microsoft are driving blockchain as their clients are making the transition to cloud services. Accenture has measurable market share as well.
Central Bank Transactions
Data Center Infrastructure
Enterprise Application Market
Transactions in Real Time
Across National Boundaries
Key Topics Covered:
1. Government Blockchain: Stable Value Currency Market Description and Market Dynamics 1.1 Government Blockchain Market Description and Market Dynamics 1.1.1 Blockchain and Cyber Attacks 1.1.2 Central Banks Seek to Master Stable Value Digital Currency 1.1.3 Digital Virtual Currencies Goal: Stable-Coins that Have a Consistent Value 1.2 Blockchains: Cryptographically Secured Distributed Ledgers 1.2.1 Central Bank Currencies: Wholesale and Retail 1.2.2 Advantages of Central Bank Digital Currency 1.2.3 Blockchain Companies Initial Coin Offerings - ICOs 1.2.4 Transfer of Social Trust: From Institutions to Systems Using Well-Tested Computer Code 1.3 Central Banks Exploring Creation of Digital Currency Issued by Government -Accepted as a Method of Payment 1.3.1 Fed System as It Exists Now 1.3.2 Digital Currency Approach Uses Blockchain To Verify and Track Transactions 1.3.3 Individuals Would Hold Accounts Directly at The Central Bank 1.3.4 Sovereign Digital Currencies 1.3.5 Digital Currencies as Payment Methods 1.3.6 Enterprises to Speed Up Digital Transformation 1.3.7 Role of Central Banks in Digital Currency Interoperability
2. Government Blockchain Stable Value Digital Currency: Market Shares and Forecasts 2.1 Government Blockchain Stable Value Digital Currency Market Driving Forces 2.1.1 Replacing Client Server Data Center Architecture with Blockchain Brings New Digital Efficiencies 2.1.2 Blockchain Leverages Artificial Intelligence (AI) 2.1.3 Governments Use Blockchain Distributed Ledgers to Achieve Business and Fiscal Transparency 2.2 Government Blockchain Market Shares 2.2.1 Blockchain Market Shares, Dollars, Worldwide, 2020 2.2.2 IBM and Microsoft 2.2.3 IBM Blockchain 2.2.4 IBM Implements AI Support for Blockchain 2.2.5 IBM Blockchain Decentralized Ledger in Supply Chains 2.2.6 IBM Blockchain Decentralized Ledger in Medical Industry 2.3 Government and Industrial/Finance Blockchain Market Forecasts 2.4 Blockchain Market Forecasts: Banking, Finance, and Insurance, Healthcare, Cybercurrency, Supply Chain, and Internet of Things (IoT) 2.4.1 Rapid Adoption of Technology 2.5 Government and Financial Blockchain Applications 2.5.1 BFSI: Blockchain Impact on Stock Market 2.5.2 Blockchain for Healthcare 2.5.3 Blockchain for Contracts and the Legal Industry 2.5.4 Blockchain for Supply Chain 2.5.5 Blockchain for Internet of Things 2.5.6 SoftBank CEO Masayoshi Son Sees 1 Trillion Devices for Internet of Things 2.6 Blockchain Pricing 2.6.1 Microsoft Blockchain Pricing 2.7 Central Bank Digital Currency Blockchain Regional Market Segments 2.7.1 US 2.7.2 Covid-19 Pandemic Toll on US Communities 2.7.3 US Fed Exploring the Use of Innovative Technologies to Enhance Payments Efficiency 2.7.4 Japan Central Bank Digital Currency 2.7.5 Europe 2.7.6 Bank of China 2.7.7 China Opens Its Financial System to The World 2.7.8 China Ending Anonymity of Virtual Accounts to Cryptocurrency Exchanges 2.7.9 Korean Blockchain Association 2.7.10 UK
3. Government and Industrial/Financial Blockchain Central Bank and Vendor Activities 3.1 Government and Central Bank Planning for Digital Coins and Tokens 3.2 Boston Fed Looking at 30 to 40 Blockchain Networks for Digital Dollar 3.2.1 US Fed and Digital Currency 3.3 EU and Digital Currency 3.3.1 Sweden's Central Bank, Riksbank 3.3.2 Germany and Italy 3.3.3 Bank of Spain 3.4 China's Retail Central Bank Digital Currency (CBDC)
4. Blockchain Research and Technology 4.1 On a Blockchain, a Node Replicates Data for All Nodes 4.2 Blockchain Electricity Usage - Moving to Asynchronous Process 4.3 Accenture Patent Tied To "Editable Blockchain" 4.4 Digital Currency Models 4.4.1 Central Bank Digital Currencies (CBDCs) 4.5 Facebook Libra - Diem Association