The Technavio analysts have dug something that crypto realm is always afraid to discuss – the effects of quantum computing on the blockchain world!
The market research report mentions in detail how the rise in quantum computing will affect the blockchain realm, and there’s nothing negative to hear. Unlike the popular assumption that blockchain will suffer negatively on the day a quantum computer is born, the report says that such a development will benefit the crypto industry especially the retail sector.
The rise of quantum computing will give a Philip to the blockchain adoption the world over. The growth in the retail industry will be significant especially in the period between 2019 to 2023. The public encryption keys are the ones to be decrypted first using the vast computing power promised by the quantum enigma.
Besides the crypto industry, blockchain will be adopted across a spectrum of industries including finance, public health, insurance, defence and many more sectors. Security-as-a-service (SaaS) will also see tremendous growth. As per Technavio global blockchain report, the quantum jump will ultimately cause the industry to give birth to a blockchain-as-a-service industry.
Blockchain growth zones will rise further
Technologies based on blockchain will certainly see a rise since this field continues to influence many other sectors.
A prominent area of interest is data identity management that is sure to be a goldmine for the developers. Here, blockchain will serve a definitive purpose of solving crucial issues like data fraud concerns and identity thefts, particularly those in the retail arena.
Technavio global blockchain report mentions that the North American region is highly likely to benefit the most from such a spurt in blockchain adoption as the area already has the relevant infrastructure in place. South America and Europe will be next in line. The report clearly states that blockchain use and its dominance will surely see a meteoric rise in the next five years.
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