USA Blockchain Enabled Record Issuing Platform Market

Analysts at Ken Research in their latest publication "USA Blockchain-Enabled Record Issuing Platform Market - A Technology Disruptor in Record/Certificate Issuing and Managing" observed that there is a vast opportunity to disrupt the traditional record Issuing space. The report discusses the creation & feasibility study of a blockchain-enabled records/certificate issuing platform that can utilize the immutable nature of the blockchain technology to securely issue records & certificates. The platform could be a real disruptor in the traditional field as it eliminates various costs like printing, admin, logistics & more. The report further discusses the use of case scenarios in the public & private sector, competition analysis of current players in the industry & end-user perception via survey analysis.

Industry Overview

In 2020P, emerging tech adoption will continue the upward trend with technologies like AI, blockchain & machine learning picking up the pace. Blockchain is supposed to have the biggest impact as data collection & its sanctity becomes of the utmost importance. It is expected that spend on blockchain around the world will increase 3.5X in the next 3 years at a CAGR of ~50%. Currently, blockchain has~ 2,500 patented products with the USA amounting to ~700 of those. Furthermore, the blockchain market size is expected to grow at ~30% in the coming 4 years.

Use case Segmentation

The report explores various use cases of a blockchain-enabled records/certificate issuing digital platform in the public & private sector while providing an in-depth analysis of their demographics, technology concerns & major pain points. In the public sector, we understand the utilization of the platform in four major segments, namely permits & licenses, user identification, vital documents & legal records. Furthermore, the report comprises 8 major industries such as BFSI, healthcare, education, energy & more

Business Risks Faced

The major risk faced for such a platform is Resistance to Change from the organizations, hence traditional industries will need to persistently reached & there is also a need for further reforms to change the ecosystem. Lack of Awareness amongst industry stakeholders would also require imparting necessary knowledge about blockchain & its uses in digital issuance of certificates & records. This type of platform is also way ahead of the current ecosystem. Though it provides a first-mover advantage to the creator of the platform the efficient business execution becomes an important consideration as it is important to curate different use cases for different end-users while planning strategic expansion & business models.

Product Planning & Strategies-The Way Forward

The report analyzes the product from its planning stage to its launch in the market. It starts with a feasibility study which helps in understanding the current pain points & current need while defining how such platforms can tackle the problem. From there it moves to product positioning strategies providing different ways of product offering, their features & evolving service portfolio & also promotion strategies focusing on adoption of such a platform with future adopters & other services to focus upon. Towards the end, it also provides a brief  idea about pricing & business model which contains different monetization model & pricing policies