Worldwide Bitcoin Market – Trends and Future Scope 2022
DecisionDatabases.com adds a new research report on "Global Bitcoin Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast ". The report does an in-depth study of the current market dynamics and future projections using analytical tools such as Porter’s Five Forces Model, value chain analysis, market attractiveness analysis, company share analysis, and brand share analysis.
Bitcoin is a “peer-to-peer” technology for the payment system and works directly with two or more users of a central server system without the use of an intermediary. The major benefits of using this payment system are that the user, who holds its account, has total control over any transaction. These are an intangible digital asset and occur in the form of cryptographic signatures or records in the bitcoin network. The transactions trough this system are confirmed by network nodes, where it is used as a unit of account. Bitcoins are formed as remuneration for payment processing where it offers verification of computing work and documented payments into a public ledger called the blockchain. The global market is expected to witness a substantial growth over the forecast period on account of rising spread of wireless communication network along with the increasing online transaction activities across the globe. However, rising concern about safety & security and increasing criminal activities are major challenges, which may restrict the growth of the market in the forthcoming years.
In February 2015, government regulatory has expanded the number of merchants accommodating bitcoin for services and products to 100,000. The legal category varies significantly from country to country and is still indeterminate in many of them. While some countries have openly allowed its usage and trade, others have restricted it.
The global bitcoin market has been segmented based on geography into five major regions including North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa (MEA). North America is a major market for bitcoin and is expected to grow at a significant rate over the forecast period owing to growing industries, rising awareness about online transactions and expanding wireless communication network in the region. Europe is also anticipated to grow at a considerable rate over the coming years due recent economy restructuring and growing online activities in the area. Asia Pacific is a fastest growing market for bitcoin and is projected to witness a double-digit growth in the study period on account of rapid urbanization, rising household income and expanding IT industries in the region.
The key industry players include ANXBTC Bitcoin Exchange, Expresscoin, Coinbase Inc. and BitPay.
In Aug 2016, Tether Inc. in collaboration with OpenLedger and Coinsbank have launched the EURT, a “euro-coin” that is transferable and tradable over the Bitcoin blockchain.
In Aug 2016, Bitmain Technologies Limited, Beijing-based bitcoin miners, Hashnest, Antpool along with BTC.com, has launched the world’s most silent bitcoin miner and a “2600W PSU” designed for high-performance bitcoin mining.
In sep 2016, Teambrella, a Bitcoin-based peer-to-peer insurance company, has released a Pre-Launch Demo Version of its service
In Sep 2016, Bitcoin.com, a leading Bitcoin portal on the Internet, has announced to launch its latest gaming section to add a variety of fun activities for high market penetration.
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