(MENAFN- iCrowdNewsWire) The global blockchain supply chain finance market will be witnessing significant growth due to its constant development in technology. Blockchain has gained momentum in supply chain finance as it uses chained finance platform for every supply chain transaction and payment, which can be more transparent, easily authenticated, and manageable. Companies are focusing to use supply chains to keep tighter controls on their working capital as by using the blockchain technology, which boosts the growth of the market over the forecast period. In addition, machine learning, Internet of Things (IoT), and artificial intelligence are facilitating the supply chain finance relationships, and these technologies are making a great impact in the finance sector.
Moreover, the demand for supply chain financing will continue to increase as companies are concerned about their interest rates, trade barriers, and other others issues that are affecting the working capital of the companies. So, with the help of supply chain financing, companies can fill the gaps and can even help the smallest suppliers to stay financially operational and healthy.
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Global Blockchain Supply Chain Finance Market: Regional Analysis
North America is estimated to dominate the blockchain supply chain finance market due to the growing adoption and the presence of various players in this region. Asia Pacific is also expected to grow due to the increasing adoption of digital currency trend, which supports to the development of the market in the coming years.
Global Blockchain Supply Chain Finance Market: Segment Analysis
The global blockchain supply chain finance market is segmented into applications and product type. Based on the product type, the blockchain supply chain finance market is segmented into exchange, IT solution, consulting, fintech, bank, and other. The application segment includes identity management, cross-border payment, digital currency, trade finance, and others (such as proof of equity and exchange stock exchange, financial audit, loyalty, and rewards).
Global Blockchain Supply Chain Finance Market: Key Players
SAP, IBM, Bitspark, Ripple, Huawei, Rubix by Deloitte, Baidu, Accenture, Tencent, Qihoo 360, Distributed Ledger Technologies, JD Financial, Oklink, Ant Financial, Nasdaq Linq, HSBC, Oracle, ELayaway, AWS, and Citi Bank are the major players that are operating in the global blockchain supply chain finance market.
Global Blockchain Supply Chain Finance Market: Competitive Landscape
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