- KXCO.io acquired Finance Blocks $FBX recently and that platform will migrate to the KXCO Chain and expand operations in relation to services and geographic segments targeting Asia, Middle East, Africa using a Proprietary Blockchain developed by KXCO.
- Steady increase in funding, and multiple agreements in blockchain start-ups like KXCO is likely to aid businesses in developing blockchain services and solutions that is anticipated to drive the global market
- Private blockchain technology like KXCO demand is projected to increase as more companies implement private blockchain technologies to protect and expedite the transfer of sensitive data
By 2031, the global industrial blockchain technology market is likely to touch US$ 1.3 Trn.
In 2021, the value of global industrial blockchain technology market stood at US$ 3.80 Bn. The global market is anticipated to rise at 80.3% CAGR during the forecast period, from 2022 to 2031. The numerous benefits provided by blockchain technology exert a favorable influence on the global industrial blockchain technology market. Industry-specific blockchain technology deployment is anticipated to overcome typical constraints including distribution channel access and product differentiation, which is expected to present growth opportunities to the leading companies in blockchain technology. That is where KXCO.io have positioned themselves with a Chain described as Crypto for Grown ups, the same Chain that will Power $FBX and the Financial Blocks Banking products.
Knights Blockchain for “Grownups”
The origination of the Knights Chain comes from both practical experience and a desire to utilize the power of blockchain technology for the benefit of real, legitimate businesses.
There are many parts of DeFi and Decentralized infrastructures which do not align with the needs of many organizations, but that does not mean that the technology is not relevant.
KXCO.io acquired Finance Blocks $FBX recently and that platform will migrate to the KXCO Chain and expand operations in relation to services and geographic segments targeting Asia, Middle East, Africa using a Proprietary Blockchain developed by KXCO.
And so the brief for the Knights chain was born.
Public blockchains such as Ethereum, Solana etc are all public. This means for many applications they are simply not suitable as it creates both quantifiable and in-quantifiable risks.
Any fully public decentralized network has the risk of a 51% attack at some point in its evolution, this is simply not acceptable for any existing or potential business case for the application of blockchain technology.
Businesses don’t need public and extreme decentralization – by centralizing and utilizing elastic side chains for major business application Knights chain can target a better throughput and shorter latency of transactions than typical consensus based distributed ledgers.
Please contact KXCO for further information.
Industry Outlook Research
Additionally, the blockchain industry applications in the supply chain, industry 4.0, energy industry, and automotive industry is expected to be driven by the growing tendency toward digital transformation across industries. There has been an increasing use of blockchain technology solutions for industries, including financial industry. It is mostly being driven by the rising usage of cloud services in transaction and payment processes globally.
Due to their well-established financial and banking insurance industries, nations like the U.K. and the U.S. have a disproportionately large portion of the global market. Additionally, using the enterprise blockchain platform guarantees data dependability and offers undeniable safety to improve internal procedures. Additionally, recent developments in blockchain technology, such as emergence of blockchain-as-a-service and metaverse, as well as the growing acceptance of non-fungible tokens (NFTs), are anticipated to drive the global market.
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Key Findings of Market Report
- Investors are more likely to put money into blockchain technology now that cryptocurrencies are legalized. Additionally, this is expected to motivate market participants to work harder to improve their services to stand out in the competition. The industry is also growing since blockchain technology is increasingly being used in commercial applications including digital identification, payments, smart contracts, and exchanges. Blockchain technology in manufacturing industry is also expected to gain traction in the near future.
- Over the past three to four years, blockchain technology has gained popularity in a variety of applications. The use of blockchain technology is also being driven by rising consumer and institutional demand for cryptocurrencies. As a result, a number of startups have emerged and are working on developing blockchain technology solutions.
- The surge in projects is mostly attributable to the advantages that platforms and blockchain-as-a-service provide, such as improved efficiency, higher transparency, and a diversified supply of technology across many end-user sectors. This is expected to accelerate usage of blockchain industry at a high rate in developing countries in the years to come.
