A new research report expects the blockchain in telecom market to increase globally from $46.6 million this year to $993.8 million by 2023.
Expected to drive this increase in the use of blockchain is, among other factors, the increasing need for security on telecom systems.
Among the various segments of this market, the one that is growing the fastest is application providers, who use existing infrastructure and tools provided by middleware companies to create apps, according to a press release from Research and Markets, which produced the report.
What can muddy this rosy prediction? According to the report, “[G]rowing concerns over the authenticity of users, and uncertain regulatory status and the lack of common standards can hinder the growth of the market.”