At a time, when cybersecurity is a growing concern, it is believed that blockchain can help in solving the issues through a transparent and secure peer-to-peer (P2P) network that records transactions. “Blockchain combines permanent and tamper-proof record keeping with real-time transaction transparency and accountability, as well as automated smart contract functionality, which can play an ideal role in governments attempting to combat corruption,” Vijay Pravin Mahajan, founder, and CEO, bitsCrunch told FE Blockchain.
As per a recent report by the world economic forum (WEF), public procurement (or government contracting) is the single largest marketplace for government spending and the greatest source of official corruption worldwide. According to Mahajan, blockchain now supplements and improves the current legal framework. Besides, banking is another sector, which is expected to benefit from this.
As per a report by Statista, in 2020, the banking sector, which has a market share of approximately 30%, received a significant portion of the revenue from the global blockchain market. Global spending on blockchain solutions is expected to keep increasing in the coming years.
Continue reading: https://www.financialexpress.com/blockchain/businesses-look-to-implement-blockchain-to-create-a-safer-environment/2676983/
As per a recent report by the world economic forum (WEF), public procurement (or government contracting) is the single largest marketplace for government spending and the greatest source of official corruption worldwide. According to Mahajan, blockchain now supplements and improves the current legal framework. Besides, banking is another sector, which is expected to benefit from this.
As per a report by Statista, in 2020, the banking sector, which has a market share of approximately 30%, received a significant portion of the revenue from the global blockchain market. Global spending on blockchain solutions is expected to keep increasing in the coming years.
Continue reading: https://www.financialexpress.com/blockchain/businesses-look-to-implement-blockchain-to-create-a-safer-environment/2676983/
