Blockchain Industry: 5 Areas to Unlock the Technologys Potential
Summary
The International Data Corp (IDC), meanwhile, predicts that the technology will witness a 5-year compounded annual growth rate (CAGR) of 76% between 2018 and 2023. Finally, legal and regulatory challenges persist, especially around data privacy, the enforceability of contracts, intellectual property, and choice of jurisdiction. Thankfully, household names in the blockchain market, including Hyper Ledger, Stellar, and Ripple are all working on various consensus mechanisms. These efforts will go a long way in reducing the cost of blockchain implementation while simultaneously shielding enterprises from the technical aspects of the technology. In the Deloitte survey referenced earlier, two in five CIOs cited regulatory issues as the chief barrier to blockchain implementation.
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