Blockchain In Electronic Component Market is anticipated to grow at a significant CAGR during the forecast period. A major factor driving the blockchain in electronic component market is its capability to eliminate any counterfeiting risk associated with the supply chain of electronic components. The electronics industry is estimated to witness a significant rise in the implementation of blockchain in the near future as counterfeit parts pose a considerable threat to manufacturing. High security is ensured, as blockchain verifies and records all the transactions made. It is also a faster and a cheaper medium of carrying out transfer of online information and virtual money without the need of any third-party verification. Consequently, it is increasingly being adopted globally.
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Prominent players operating in the blockchain in electronic component market include ABB Ltd., Accenture, Inc. 21, Inc., Chain, Inc., AlphaPoint Corporation, Bitfury USA, Inc., Skuchain, Inc., Coinbase, Inc, BTL Group, Dash Technologies Inc., Venture Proxy Ltd., Abra, Inc., Circle Internet Financial Limited, Digital Asset Holdings, LLC, Digitalx Ltd., Global Arena Holding, Inc., IBM Corporation, and Microsoft Corporation.
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