Google Is Betting Big on Blockchain

Over the course of the last year, investors have become increasingly fascinated with the emergence of both cryptocurrencies and the underlying blockchain technology that enables the exchange of digital dollars. The ability to securely record transactions has the potential to revolutionize any number of existing industries, and is being explored by a number of big tech companies.

While estimates vary, the market for blockchain technology could produce compound annual growth of 42.8%, reaching $14 billion by 2022, according to data provided by Netscribes. Some forecasts are even more enthusiastic, estimating that the market will grow from $708 million last year to $60.7 billion by 2024, according to a report by Wintergreen Research.

Sourced through Scoop.it from: finance.yahoo.com

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