Over the past few years, the Blockchain market size has grown significantly and one of its key factors is the increased investment in this technology. Blockchain has brought a paradigm shift in the financial sector and its adoption has witnessed a sharp spike. The organizations across different sectors deploying Blockchain to improve their efficiency and make the process faster.
Commenting about the growth of this market, Rajesh Dhuddu, Global Head for Blockchain & Metaverse Practice, Tech Mahindra said, "Today, Blockchain is one of the key technologies that is best equipped to significantly improve the efficiency of any supply chain operations, facilitate real-time view of all transactions, and eliminate the 'trust gap' amongst all the emerging technologies. The optimization of vaccine traceability drives vouches for this. Furthermore, a glimpse into the future predicts the popularity of Blockchain-based CBDCs, on the virtue of their low costs, enhanced security, and real-time settlements, as a mode of next-generation payments. We believe that with blockchain technology's ability to drive monetization and commerce through NFTs and Metaverse - it will bring enormous value for brands and individuals now and in the future."