Driven mainly by financial technology (fintech) investments, blockchain has seen a fast uptick in adoption for application development and pilot tests in a number of industries and will generate more than $10.6 billion in revenue by 2023, according to a new report from ABI Research in New York.
That revenue figure is expected to come mainly from software sales and services.
[ Further reading: What is FinTech (and how has it evolved)? ]
Driving much of the interest in blockchain are multinational corporations rolling out proofs-of-concept and pilot programs, moves that have bolstered the credibility of and investment in the distributed ledger technology, according to ABI Research director Michela Menting, the report’s lead author.
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