According to the International Data Corporation (IDC), worldwide data spending on blockchain solutions will reach $19 billion annually by 2024.

As organizations move towards hybrid cloud and cloud-native apps as part of their digital transformation initiatives, they must evaluate whether and where blockchain can play a role. While business adoption of distributed ledger technology (DLT) is still in its early phases, with most projects serving as pilots or proof of ideas, there is no question that blockchain will disrupt industries across the board.

Based on a peer-to-peer (P2P) topology, blockchain development services can significantly enhance transaction transparency. It improves cross-border transaction performance, data resilience, and security while cutting transaction costs. Blockchain employs a shared and immutable ledger that can only be viewed by those granted access. Besides building trust, Cigniti’s blockchain development services offer business advantages, such as cost reductions through increased speed, efficiency, and automation.