Blockchain & Bitcoin 2018
INTRODUCTION:
Bitcoin is the first blockchain-based decentralized digital currency that is progressively being utilized everywhere worldwide since 2009. It has advanced its development into many other assets and forms of Blockchain technology.
The industry has been developing more rapidly than the boldest forecasts predicted. Capitalization of the crypto-currency market has approached the $ 100 billion mark in 2017.Over the last decade, the world of digital currencies underwent the major
transformation with the introduction of Bitcoins in the market. Bitcoin is a decentralized cryptocurrency, purely peer-to-peer version of electronic cash used for online transactions through digital unit of exchange, where a user can make transaction
without any middlemen.
Transactions made are processed through private network of computers, linked through shared program and simultaneously it gets verified and recorded in public distributed ledger, called the block chain. Bitcoin is the most prominent triple entry
bookkeeping system in existence. Some of the key benefits of using bitcoin are: there are no intermediaries or third party involved in, to interrupt, lesser transaction fees, multimode payments methods, daily cash outs and others.
Crypto-Bitcoin & Blockchain Congress is a series of events focussing on Blockchain and cryptocurrencies. The Blockchain technology has already conquered not only the financial and banking spheres but also started to spread its roots in medicine,
insurance, document circulation, solar, etc. Experts will share their experience of implementing Blockchain in governmental institutions (Govtech), banking system, trading, media, healthcare and other spheres. We will discuss all the aspects of
creating innovative IT products – from the emergence of idea to entering the market.
The main participants are IT developers, entrepreneurs, investors, software and equipment manufacturers. The speakers are managers of the well-known companies and representatives of governmental authorities.
Join Crypto-Bitcoin & Blockchain Congress Summit for better future today!
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Global Bitcoin Technology Market - Market Trends and Forecasts (2015 - 2020)
Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency. The technology could cut costs by up to $20
billion annually by 2022.
That's because blockchain, which operates as a distributed ledger, has the ability to allow multiple parties to transfer and store sensitive information in a space that’s secure, permanent, anonymous, and easily accessible. That could simplify paper-heavy,
expensive, or logistically complicated financial systems, like remittances and cross-border transfer, shareholder management and ownership exchange, and securities trading, to name a few. And outside of finance, governments and the music industry
are investigating the technology’s potential to simplify record-keeping.
As a result, venture capital firms and financial institutions alike are pouring investment into finding, developing, and testing blockchain use cases. Over 50 major financial institutions are involved with collaborative blockchain startups, have
begun researching the technology in-house, or have helped fund startups with products rooted in blockchain.
In BI Intelligence’s Blockchain Report, we explain how blockchain works, why it has the potential to provide a watershed moment for the financial industry, and the different ways it could be put into practice in the coming years.
Keynotes:
- Spending on capital markets applications of blockchain is expected to grow at a 52% compound annual growth rate (CAGR) through 2019, according to Aite Group, to reach $400 million that year.
- Banks and major financial institutions are working both collaboratively and independently to develop blockchain tech. Over 50 major financial institutions are involved with collaborative blockchain startups, like R3 CEV or Chain. And many are
investing in the technology on their own as well.
- Putting blockchain to use for real-world transactions is likely not that far off. If working groups' tests are successful, firms could be using it to transact real value as early as the end of this year and we could see widespread industry application
within the next few years.
Over the last decade, the world of digital currencies underwent the major transformation with the introduction of Bitcoins in the market. Bitcoin is a decentralized cryptocurrency, purely peer-to-peer version of electronic cash used for online transactions
through digital unit of exchange, where a user can make transaction without any middlemen. Transactions made are processed through private network of computers, linked through shared program and simultaneously it gets verified and recorded in
public distributed ledger, called the book chain. Bitcoin is the most prominent triple entry bookkeeping system in existence. Some of the key benefits of using bitcoin are: there are no intermediaries or third party involved in, to interrupt,
lesser transaction fees, multimode payments methods, daily cash outs and others.
Bitcoin, have paved the way for increased mainstream acceptance for the digital currency, which even has the potential for transforming global financial transactions. In current scenario, most of the online merchants and startup companies have already
started enjoying the anonymity and efficiency of bitcoin payments, which allows them to cut overhead costs compared to credit or debit cards transactions.
The Global Bitcoin Technology Market is estimated to grow at a CAGR of 7.26% over the period 2015 - 2020. Booming economy and growing disposable income among middle income group in developing world has led Bitcoin technologies to gain traction and
to be used as one of the medium of exchange in the region.
However, the recent regulations and directives imposed by the European banking authorities has hugely impacted the Bitcoin market in Europe. Whereas, owing to large number of bitcoin users, the market will witness growth in the North America region.
Global Bitcoin technology market have been broadly segmented on the basis of denominations used, services offered, industry verticals and geography. As per denominations, the market have been segregated into bitcoin (BTC), millibitcoin (mBTC), microbitcoin
(uBTC) and satoshi. Whereas per services it has been segmented by bitcoin exchanges, remittance services, and payment & wallet services. Various industry verticals, where bitcoin are being used are mining, banking and financial services, entertainment
and media.
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