Over the past couple of years, blockchain technology has been gaining significant importance. It has become an integral part of business-to-business (B2B) and business-to-consumer (B2C) commerce, as well as products and legal processes. Blockchain technology’s growth in banking, financial services, and the insurance sector, according to the European Blockchain Conference, will benefit in use cases such as payments, digital identities, exchanges, and documentation.
Figment, one of the world’s largest blockchain infrastructure and services providers, also participated in the European Blockchain Conference that was held in Barcelona in June this year. Figment supports the adoption, growth, and long-term success of Web3. The company’s unique approach makes it simple to build on the next generation of blockchain technology. The figment works as a highly secure network of proof-of-stake (PoS) validators that enable token holders to secure networks, participate in governance, and earn rewards. Its DataHub platform allows developers to use the most powerful and unique features of a blockchain without having to become protocol experts, thus, boosting the development of new Web3 applications. And Figment Capital offers seed funding and growth support to new and highly innovative PoS projects.
The blockchain technology market in the United States is estimated to grow to USD1 billion this year. Financial institutions and companies like Figment have been spearheading innovations in the blockchain technology space. This sector holds significant potential for prescription management, medical data, online shopping, and other areas.