Market Overview

EU5 Blockchain Technology Market (2018-2023): European Union is Expected to Increase its Blockchain Investment from 83 Million in 2018 to 340 Million by 2020 - ResearchAndMarkets.com

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The "EU5
Blockchain Technology Market (2018-2023)"
report has been added
to ResearchAndMarkets.com's offering.

Blockchain technology has made maximum penetration in these five
mentioned countries. The European Commission has invested a significant
amount on Blockchain related projects. The European Union is expected to
increase its Blockchain investment from EUR83 Mn 2018 to EUR340 Mn by
2020.

The European Union has already invested more than USD 6 Mn on the
start-ups who are working with Blockchain technology. A European
Blockchain observatory and forum hub began monitoring the existing
Blockchain initiatives, trends and potential risks. The forum will
create more awareness that will further drive the adoption in the region.

France is planning to use Blockchain technology for trading unlisted
securities. Estonia had started testing with Blockchain technology long
before the term Blockchain was coined. Since 2012, Estonia made use of
Blockchain technology to protect national data, e-services and smart
devices.

Spanish Banco Bilbao Vizcaya Argentaria (BBVA) became the first global
bank to issue loans using the technology. The Spanish government is
trying to build Blockchain-friendly legislation, providing a possible
tax break to attract companies to work with the emerging technology.

As reported by The European Insurance and Reinsurance Federation, Europe
dominates the global insurance market. An industry consortium has
created a Blockchain based solution for the insurance market to allow
simplified, transparent sharing of information and improved customer
efficiency.

Key Growth Factors

  • The European Commission is liberalizing the regulation. It has created
    a new task force entrusted with Blockchain expertise. The flexibility
    of law are expected to drive the market in this region.
  • The European Commission launched EU Blockchain Observatory and Forum
    in February 2018. Its aim is to bring together various sectors to
    develop new use case of Blockchain and highlight the key benefits of
    Blockchain initiatives.

Threats & Key Players

  • The lack of public decision is restraining the EU5 countries from
    adopting Blockchain technology in despite huge investments made by the
    European commission.
  • The decentralized characteristic of Blockchain technology clashes with
    the European regulation on personal data protection. These factors
    hinder the adoption of the technology.
  • The key player in EU5 countries are Microsoft Corporation, IBM,
    Accenture, Deloitte, Capgemini, Cognizant, Infosys, and Tata
    Consultancy Services.

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: Introduction

Chapter 3: EU5 Blockchain Technology Market Overview

Chapter 4: EU5 Blockchain Technology Market by Industries

Chapter 5: Company Profiles

Chapter 6: Start-up Company Overview

Chapter 7: Conclusion

Companies Featured

Major Companies

  • Microsoft Corporation
  • IBM
  • Accenture
  • Deloitte
  • Capgemini
  • Cognizant
  • Tata Consultancy Services
  • VirtusaPolaris
  • Wipro

Start-up Companies

  • Ripple
  • Ethereum
  • Coinbase
  • IOTA

For more information about this report visit https://www.researchandmarkets.com/research/n74zjz/eu5_blockchain?w=4

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