DUBLIN--(BUSINESS WIRE)--The "Latin America Blockchain Technology Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
Latin America blockchain technology market is expected to grow at a CAGR of 30.3% (2018-2023) and generate a global revenue of USD 0.51 billion by 2023.
Blockchain technology is used to record Bitcoin transactions via a global network of computers. It is a continuous growing list of blocks (record) that are linked and secured using cryptography. Each new block created is connected to the previous block via a cryptographic Hash. Countries in this region have found Bitcoin to be the best solution to solve political instability, and fall in oil prices and other initiatives will make it possible for companies to acquire Blockchain solutions in the near future.
Latin American banks are trying to find an alternative banking system to move away from traditional one. Approximately 51% of the population in Latin America and the Caribbean have bank accounts, prompting fintech starts-ups to have come up with an idea to provide alternative financial services to the masses. Start-up companies like Ripio and BITSO are making progress towards providing better customer services using blockchain technology.
Key growth factors:
- Latin America found Bitcoin to be helpful to attract businesses and expand the existing number of firms. The technology will help e-commerce firms like eBay, and Amazon that have already started their business in the region, to expand further.
- Latin America faces the problem of food security. The players in this region started using Blockchain technology to solve this problem. IBM has joined hands with Walmart to use blockchain technology in the supply chain to ensure food safety in pork and Mexican mangoes
- Microsoft Corporation
- BITSO. (Bitcoin Exchange)
- RSk Labs
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Introduction
Chapter 3: Latin America Blockchain Technology Market overview
Chapter 4: Latin America Blockchain Technology Market by country
Chapter 5: Latin America Blockchain Technology Market by industries
Chapter 6: Company profiles
Chapter 7: Conclusion
For more information about this report visit https://www.researchandmarkets.com/research/mmlnvs/latin_american?w=4