Blockchain in BFSI Market 2026 Analysis with Top Global Players like Alphapoint,Auxesis Group,Amazon Web Services, Inc. (AWS),Bitfury Group Limited.,Hewlett Packard Enterprise Development LP (HPE)

Blockchain in BFSI is also called as FinTech blockchain. Wide dissemination of blockchain by financial organizations from the past years has witnessed rise in popularity of cryptocurrencies and the initial coin offering (ICO). As well as blockchain is panacea for all fintech companies’ digital concerns such as security. Blockchain as a technology was developed to serve as the public transaction ledger for cryptocurrencies, which uses distributed databases and cryptography to record transactions. This characteristic of blockchain provides a high level of safety while transmitting and storing data, open and transparent network infrastructure, decentralized ledger and low cost of operations benefits. Moreover, blockchain in FinTech anticipates in changing the paper-intensive international trade finance process to a digital decentralized ledger.

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Key Players:

  • Alphapoint
  • Auxesis Group
  • Amazon Web Services, Inc. (AWS)
  • Bitfury Group Limited.
  • Hewlett Packard Enterprise Development LP (HPE)
  • International Business Machines Corporation (IBM)
  • Infosys Limited
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE

Factors such as increase in need for transactions transparency and accountability and greater adoption in cross-border payments drive the market growth. In addition, increase in investment by banks in blockchain-based solutions across the globe is also expected to boost the market growth. Moreover, increase in demand for distributed ledger technology and rise in cryptocurrencies market cap are also some of the factors that fuel the demand for blockchain solutions and services across global banks.

KEY MARKET SEGMENTS

BY COMPONENT
– Platform
– Services

BY APPLICATION
– Digital Currency
– Record Keeping
– Payments & Settlement
– Smart Contracts
– Compliance Management
– Others

BY ORGANIZATION SIZE
– Large Enterprises
– Small & Medium Enterprises

BY END USER
– Banking
– Insurance
– NBFCs

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However, scarcity of skilled workforce is expected to impede the market growth during the forecast period. Furthermore, growth in demand for increased scalability, transaction speed and reduction in processing costs are expected to provide major growth opportunities for blockchain in BFSI market in the upcoming years. Also, rise in demand from developing economies for blockchain solutions is also anticipated to be opportunistic for the market growth.

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Sameer Joshi                                
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Posted by on Monday July 13 2020, 4:59 PM EDT. All trademarks acknowledged. Filed under Featured Press Release, Media, Technology, Media, & Telecommunications, Telecommunication. Comments and Trackbacks closed. Follow responses: RSS 2.0

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