The global cryptocurrency and blockchain technology market is believed to be in for an impressive growth spurt in the next five years, reaching a value of $57.64bn by the end of 2025.
New research from Million Insights estimates that the sector will grow at a compound annual growth rate of 69.4% between 2019 and 2025.
The researchers anticipated that the scaling of the market would be dependent on several factors, such as blockchain technology offering minimised error rate, elimination of reconciliation, and reduction in record delicacy.
Another key factor behind the projected growth was the skyrocketing demand for blockchain solutions across healthcare, financial services, media and telecom, public sector, and transportation sectors.
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