New FinTech Report Says Blockchain Retail Market Value to Reach $2.3 Billion by 2023
According to a report published on PRWeb, bitcoin’s market value is set to increase 29-fold by 2023. The report was developed in a study conducted by Monica Eaton-Cardone, a fintech executive.
The analysis reviews blockchain applications that may be able to promote the adoption of blockchain technology by businesses. The report also reviews adoption by distributed ledger technology. Five retail applications, including inventory management, supply chain, subscription services, auto-renewal, and authenticity verification are analyzed in the report as well.
Concerning supply chain management, the report focuses on the partnership between Walmart and IBM partnership and the partnership’s move to improve the traceability of food. Eaton indicated that the partnership needs to address a few key issues before going forward, and such issues include data privacy and engagement with legal and regulatory frameworks. Other large companies are also becoming interested in engaging, such as Amazon, De Beers, and Carrefour.
Amazon recently announced that it will be launching two blockchain-based products, called Amazon Quantum Ledger Database and Amazon Managed Blockchain.