Blockchain is the backbone of crypto currency, as crypto currencies acts as a currency for transaction, and blockchain records and links all the transactions
HYDERABAD, TELANGANA, INDIA, August 7, 2018 /EINPresswire.com/ — Blockchain acts as a game changer for the infrastructure industry, by forming a new model, taking up value and trust of information and authentication. The infrastructure industry will be positively impacted by blockchain technology, as the public and the government can freely access and verify the authenticity of information, available on the blockchain.
Blockchain is the backbone of crypto currency, as crypto currencies acts as a currency for transaction, and blockchain records and links all the transactions. Blockchain provides real-time clearance of verified transactions, it removes third party interference, and reduces the risk. Blockchain technology has the potential to transform the traditional unsecured infrastructure system and make it more secure, independent, and transparent. It is cryptographic proof instead of trust, allowing any two parties to transact directly with each other, without the need for a genuine third party. Blockchain technology provides a way out for suspicious parties to reach an agreement on a digital history. Digital history is essential as digital transactions and assets are in theory, and can be easily duplicated. Blockchain technology can certainly resolve this, without any trusted intermediate.
Blockchain technology in infrastructure is that, which everyone can access the decentralized records, stating who possesses a given land. This would eliminate the takeovers and conflicts often redistributed across the land unfairly or incorrectly, and will create implications. Blockchain is constantly drawing progressive responsiveness because of its incredible adaptability. It can bring transparency to all types of transaction and agreement in an infrastructure project.
The key factors to adopt blockchain in infrastructure industry that offers benefits:
Smart contracts: Smart contracts help the infrastructure industry to obtain freedom from mediators like lawyers, as blockchain comes with the concept of if/then. For instance, if a bricklayer has completed building the wall, then the bricklayer will make a request for it to be reviewed, and if the review proves to be effective, then the bricklayer will be paid with its value.
Improved workflow: Blockchain in infrastructure will increase transparency at the time of construction, and will drive the members involved in the project to improve their performance. Moreover, information about the project can be provided to every member instantaneously, for instance, the status of the work done and the material availability, etc. This will help to reduce the delay in project, and unnecessary rework can be avoided.
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If current investment trends continue, global infrastructure investment is expected to increase to approximately more than $3.5 trillion in 2040. On the other side, if countries adopt blockchain infrastructure, then the need for infrastructural investment will rise approximately to over $4.5 trillion in 2040, as countries will be competing with their best performing peers, with a fair and transparent deal.
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GDP expenditure is greater for roads and electricity in the current investment scenario, which together account for approximately 65% of the global infrastructural investment in the forecast period, and over 67% by the investment need scenario. Blockchain technology can meet the growing needs of infrastructure by playing a key role, and various countries have already studied the possible blockchain applications to modernize infrastructure construction. The US government approved a contract with Petroteq Energy, Inc. in the State of Utah, which has integrated blockchain into oil & gas and infrastructure operations. It is done to overhaul the country's failing infrastructure industry.
According to the current investment trend, APAC will expect a share of over 55%, and is likely to become the largest infrastructure spending region, globally. However, America will have an infrastructure spending of around 17%, and Europe of nearly 16%. In the Africa and Americas, the estimated investment need scenario is expected to be over 45% and 35%, respectively. Infrastructure spending is more in developing economies to empower economic development and cater to basic needs. In China, Chinese State Council approved blockchain in its 13th five year plan, in 2017.Chinese legislator representatives are all set for the agenda and principles that will speed up the infrastructure growth through the adoption of blockchain technology.
Blockchain technology is changing the value, identity, and trust, and is capable of operating globally. Moreover, it helps in quick settlement as well as payment, so that the transaction can be made within 10-15 seconds. In global development, and fast moving developing technology, it will give an entirely new, cashless and open financial system for all types of commodities and infrastructure. It is a system that will be running on cell phones, parallel to the banking system, and for the first time opens up payment of micro credit and many more things that are extremely helpful, which let people experience real wealth that cannot be contained.
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What can you expect from the report?
The BlockChain in Infrastructure Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Blockchain Market in Infrastucture segment?
Response: Yes, we do have separate reports as mentioned below:
1. Americas BlockChain in Infrastructure Market (2018-2023)
2. Asia Pacific BlockChain in Infrastructure Market (2018-2023)
3. Europe BlockChain in infrastructure Market (2018-2023)
4. Provider Type BlockChain in Infrastructure Market (2018-2023)
5. Product And Services BlockChain in Infrastructure Market (2018-2023)
6. Industry Verticals BlockChain in Infrastructure Market (2018-2023)
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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
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2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
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5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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Source: EIN Presswire