Global Blockchain-as-a-Service Market: Key Highlights
Global Blockchain-as-a-Service Market: Key Market Dynamics
Global Blockchain-as-a-Service Market: Regional Overview
The blockchain-as-a-service market in the Asia-pacific region is predicted to gain large market share in near future, because of the mass adoption of the blockchain technology. The governing authorities introduced various initiatives across the countries in this region will boost the adoption of blockchain technology. In Singapore, Ministry of Communications and Information grants, seed funding to the players in the media, information, and communication technology sector who uses blockchain in order to uplift businesses to create platform-linking blockchain with the existing systems. Moreover, in Malaysia an association named Malaysia Blockchain Association (MBA) works as an accelerator in the adoption of the technology in the country by the various businesses.
Due to improved regulatory framework regarding adoption of blockchain technology and constant government support in Europe, the need for blockchain-as-a-service is projected to grow. In 2019, Federal Council of Switzerland, proposed enhanced regulatory framework for blockchain that would result in improved legal security, reducing threat of misuse, and lenient policies for the implementation of blockchain based services. The scompany-owning stock exchange of Switzerland is creating trading infrastructure based on blockchain technology.
Global Blockchain-as-a-Service Market: Key Players Overview
IBM is an American global company functioning in information technology domain. Its product portfolio covers artificial intelligence (AI) platform, cloud, IT infrastructure, services, security and research. In blockchain segment, the organisation have a platform IBM Blockchain Platform that helps in building, operating and governing blockchain network. In February 2020, the company started working on a pilot project based on blockchain technology to help Food Safety and Inspection Service (FSIS), an agency of United Sates Department of Agriculture.
Microsoft is a US-based global technological company that deals in designing, licensing, manufacturing and selling of consumer electronics, software and other services related to computers and other such devices. Its product portfolio comprises of six segments, software, PCs and devices, entertainment, business, developer and IT, and other. In 2019, the company launched Azure Blockchain Services, a managed service product, which enable the formation, management and governance of consortium blockchain networks.
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