Blockchain to become Two Billion Industry by 2023 End

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Blockchain to become a $2 Billion Industry by the end of 2023Forkast Insight the research arm of the Forkast an Asian based think tank took an in-depth and comprehensive look at how blockchain technology has integrated China. On 5th of December Forkast Insights published and released its very first report about the steps being taken by the Chinese governments and the major corporations in implementing the blockchain technology across the country. According to the reports being published by the think tank technology has found a strong foothold and is rapidly maturing as the time passes and the country is ready to embrace this new form of technology. The report included the in-depth analysis from the top technology experts, leading China’s blockchain experts. The inputs to the study were also included by academicians and researchers.

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The reports also draw an analysis of how blockchain development has taken place in the world and also in China. It also contains the about how China is facing the issue and about formulating the right policy of how to develop a proper strategy, along with how the technology is affecting the daily lives of the consumers and the business community and also on how to be leader in the field of blockchain. These are the few new topics that were discussed in the reports. According to leading blockchain reporting form that reports all the issues surrounding the technology noted that the China’s  will see a annual compounded growth rate of over 60% and that the technology will exceed the $2 billion dollar revenue mark by the end of 2023.

Image Source: nyc3.digitaloceanspaces.com

This is in fact is supported by the China’s government and that of the president Xi Jinping’s policy where he is directly calling on the Chinese community to embrace the blockchain technology so that the country can grab the number one spot in blockchain innovations and become the leader and move away the second movers tag.

Source: Cointelegraph


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