Big blockchain buzz in Asia-Pacific, Million Insights

The blockchain space will grow at a significant CAGR through to 2024, with the financial services sector leading the way, according to a new report by Million Insights. However, lack of awareness about blockchain technology among the general population remains a major problem.

The market is broadly categorised into four segments: financial services, consumer or industrial products, media and the telecom sector and healthcare industry.

Key regions are North America, Europe, Asia-Pacific, Latin America and Africa. North America has clocked up major growth in recent years as the banking and finance sector increases its interest in this area. Asia-Pacific, meanwhile, is becoming a significant player.

Countries such as Malaysia, China and Singapore are heading up the Asia-Pacific market with increasing adoption of digital currencies and significant investment by big hitters eyeing various opportunities in the region. These include Chain, Circle Internet Financial., Digital Asset Holdings, Eric Industries, IBM, Linux Foundation, Post-Trade Distributed Ledger., R3CEV and Safello.