Blockchain

As Brock Pierce said, "The blockchain is going to change everything more than the Internet has." This technology is incredibly potent and is much more powerful than its initial application, i.e., Bitcoin cryptocurrency.

The Blockchain Market size was estimated to be around $7.4 billion in 2022. It is predicted to reach $94.0 billion by the end of 2027 (CAGR 2022-2027 is 66.2%).

Blockchain, often referred to as Distributed Ledger Technology (DLT), is a method for storing digital assets in the form of blocks through cryptographic hashing. Blocks cannot be altered and maintain 100% transparency. The technology promotes decentralization and is highly secure.

Storing data on blockchain reduces the chances of data distortion or theft. As a result, all kinds of data-related fraud can be prevented through its implementation in any industry.

The technology has applications in sectors like finance, fintech, gaming, IT, real estate, and food (alongside dozens of other industries). Business giants in the poultry industry (Walmart, Unilever, Nestlé) are working with IBM to secure the food supply chain and sourcing data in order to improve transparency and quality.

Eggcellent Farm SDN BHD has a unique chicken egg business model that utilizes blockchain technology to protect its NFT holder's interests and keep business operations highly transparent.