The size of Blockchain market will be over $10.6 billion by 2023, according to ABI Research.
The success of blockchain in fintech has prompted significant investment in deploying the underlying infrastructure for application development and testing in other industries. Tech giants such as IBM, Microsoft, Amazon, SAP, HPE, and Oracle, among others, are pushing Blockchain-as-as-Service for first movers.
Blockchain is being leveraged to resolve complex issues around transparency, efficiency, and cost.
Successful pilots run by the likes of Walmart and Maersk in tracking and monitoring products on a global scale are emerging into commercialized platforms that will be market-ready in the next few months, said Michela Menting, research director at ABI Research.
Some innovative companies tackling the supply chain space include Blockfreight, Modum, OriginTrail, Skuchain, Sweetbridge, SyncFab, and T-Mining.