Blockchain in Insurance Market is estimated to be US$ 39,596.29 million by 2030 with a CAGR of 72.4% during the forecast period
Blockchain is a data storage method that makes changing the data difficult or impossible. A blockchain is a digital ledger of transactions that is duplicated and distributed across the network of computer systems that comprise the blockchain. Blockchain technology will result in significant efficiency gains, cost savings, transparency, faster payouts, and fraud mitigation by allowing data to be shared in real-time between various parties in a trusted and traceable manner.
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