Blockchain technology is on the rise, with a new report predicting a significant spike in market capitalization for the Blockchain-as-a-Service market. According to Stellar Market Research, the sector is expected to reach a market capitalization of $71.3 billion by the end of 2030, showing a compound annual growth rate of 37%.
Blockchain-as-a-Service (BaaS) offers cloud-based solutions for enterprises looking to integrate blockchain into their operations. These services help manage blockchain applications without the need for expensive infrastructure or complex technical requirements.
The report highlights the supply chain industry as a key driver of growth for BaaS, with many service providers turning to blockchain for operational efficiency and transparency. Other sectors such as e-commerce, healthcare, logistics, energy, and finance are also expected to contribute to the growth of BaaS.
The future of BaaS will likely see integration with artificial intelligence and IoT technology, as well as the use of automation and smart contracts in government applications. While North America and Europe have led BaaS adoption, Southeast Asia, particularly Vietnam and Thailand, is poised for significant growth in the coming years.
The Vietnam Blockchain Association has partnered with Da Nang to transform the city into an international financial center. The collaboration aims to leverage blockchain technology to enhance Da Nang’s financial ecosystem and promote mainstream adoption of digital currencies.
The partnership focuses on establishing policies, innovative solutions, and sustainable growth to position Da Nang as a global financial hub. By embracing local solutions and fostering partnerships with international firms, Vietnam is making strides towards becoming a leader in Web3 technology.
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