Blockchain technology witnesses highest demand from US and India

India has seen over 3,100 start-ups emerge in blockchain technology since 2009

Even though challenges and doubts exist around blockchain technology’s reliability, speed, security and scalability, it is still a hugely popular skill with the highest demand coming from the US and India, according to Don Tapscott, co-founder of the Toronto-based think-tank Blockchain Research Institute.

Research firm Gartner expects the market opportunity for blockchain to exceed $3.1 trillion by 2030, while a 2015 World Economic Forum report predicted that by 2025, 10 per cent of GDP will be stored on blockchains or blockchain-related technology.

Blockchain is a digital database containing information (such as records of financial transactions) that can be simultaneously used