By 2030, blockchain technology could drive a global economy of $1.7 trillion.

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By 2030, blockchain technology could drive a global economy of $1.7 trillion

Blockchain technology is growing and is impacting life like never before. From being an underlying technology for Bitcoin, Blockchain has now emerged as a mainstream technology. DLT technology is expected to give a boost to the global economy. Most of the nations are eyeing the development of Blockchain technology and implementing this technology to make the business operations seamless. As per the study of PwC, Blockchain will majorly contribute to the global economy; it will add $1.7 trillion. The significant contribution to this will come from the Asian subcontinent.

As per the report of PwC, 2025 will be the turning point for Blockchain, and Blockchain applications will boost the global GDP by $1.76 trillion, (1.4% of global GDP) by 2030. This whopping increase is because of the boundless potential that Blockchain has to offer.

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Some of the key findings of the PwC report:

1. The countries that will show maximum development in the field of Blockchain are China, Japan, and India.2. China will surpass the U.S. in terms of potential use cases and applications of Blockchain. China will stand with a benefit of $440 billion, with the U.S. following at $407 billion.3. When it comes to the sector that will see the maximum benefit, then healthcare and public administration, and education will see the maximum impact.

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4. Here is how we will see the division of benefit by Blockchain :● Tracking and tracing of products - $962 billion● Financial services and payments- $433 billion● Digital identity management and security - $224 billion● Contracts and dispute resolution- $73 billion● Customer engagement and reward programs - $54 billion

These major development which we are expecting to see in the field of Blockchain is an indicator of how important is this technology and how much potential doesn’t it have to impact various business operations.

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There are different features that Blockchain has to offer, which makes it useful for different business operations. Some of the notable feature which Blockchain offers are :1. Decentralization2. Peer-to-peer network3. No third-party interference4. Provenance5. Traceability6. Cost-effective

Since most of the nations are now driving towards digitization, there is a need for a platform that is safe and keeps the data secure. With Blockchain technology, we can expect the system to be absolutely safe, and all the is encrypted, thus making it secure.

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The future-

In the times to comes, we are going to witness a growth in the application of Blockchain technology. With its universal application, there is going to be greater demand for Blockchain professionals. Blockchain Council is providing online Blockchain certification. This online certification program is going to equip you with all the conceptual and technical knowledge for the implementation of Blockchain. To know more connect with Blockchain Council today.

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Blockchain Council Certifications

You can check out our certifications, and kick start your career in the Blockchain space today.

● Certified Blockchain Expert● Certified Blockchain Developer● Certified Smart Contract Developer● Certified Solidity Developer● Certified Ethereum Developer

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