Globant Publishes Sentinel Report on Industry Impact of Blockchain

Rhea-AI Summary

Globant (NYSE: GLOB) released its Sentinel Report on September 15, 2022, focusing on blockchain's transformative role across industries. It outlines key applications, benefits, and challenges of blockchain technology. Predictions indicate the agricultural sector's blockchain value will hit $1.48 billion by 2026, while the financial sector comprises 30% of the blockchain market. The report also emphasizes blockchain's potential social impact, enhancing supply chain integrity and providing digital identity solutions.

Positive

• Blockchain's value in agriculture projected to reach $1.48 billion by 2026.
• Financial sector accounts for approximately 30% of blockchain market value.
• Potential growth in healthcare blockchain expected to exceed $1 billion by 2028.

Negative

• None.

The Report highlights how businesses, across verticals, can use blockchain to drive reinvention

SAN FRANCISCO, Sept. 15, 2022 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, published its Sentinel Report, "Blockchain, a game-changer for every industry." The report covers how blockchain is reinventing the digital landscape, the tools needed for businesses to best leverage this technology, and impactful applications of blockchain in various industries, as well as highlights blockchain adoption's challenges and benefits.

"The value of blockchain is not only found in crypto asset management or new ways of interacting with money, but it's changing many aspects of our daily lives and businesses," said Diego Tartara, Chief Technology Officer at Globant. "There are multiple benefits of blockchain applicable for many different uses, from improving the efficiency of transactional processes, as in finance where you can tokenize financial assets to perform conventional ownership transfers faster and cheaper, to tracking inventories and guaranteeing product authenticity, as an example in the retail industry. Through this report, we aim to help both new and experienced blockchain users understand the benefits, challenges, and impacts of the technology."

 Key data about blockchain's impact in the report include:

• Blockchain in agriculture and food will reach a value of $1.48 billion by 2026 (BIS Research)
• The financial sector accounted for around 30% of the market value of blockchain (Statista)
• The projected growth for blockchain in healthcare in 2028 is more than 1 billion USD (Vantage Market Research)

The Sentinel Report also notes that blockchain has already had a positive social impact, including improving supply chain integrity, securing digital identity management, and connecting the "'unbanked"' (people with little or no access to mainstream retail banking).

"Blockchain empowers industries and pushes humanity to make transcendent leaps that will take us further by introducing us to new models for cooperation that allow individuals to help others through peer-to-peer exchanges," said Alan Verbner, Co-Founder of Atix Labs, a Globant Division. "From the Blockchain Studio, we see that the impact of the blockchain will continue to deepen the concept of 'ownership' and identity. This technology will empower people by allowing them to own their data in different fields such as education and finance."

Blockchain Studio helps clients reinvent their business through Globant's cross-industry expertise and state-of-the-art blockchain technologies, designing and building tailored decentralized and resilient solutions that boost strategic business value enabling efficiency, immutability, and transparency.

To access the full report, please click here.

About Globant

We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design, and engineering meet scale.

• We have more than 25,900 employees, and we are present in 20 countries working for companies like Google, Electronic Arts, and Santander, among others.
• We were named a Worldwide Leader in CX Improvement Services by IDC MarketScape report.
• We were also featured as a business case study at Harvard, MIT, and Stanford. 
• We are a member of the Green Software Foundation (GSF) and the Cybersecurity Tech Accord.

Contact: pr@globant.com

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For more information, visit www.globant.com.

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SOURCE Globant

FAQ

What does Globant's Sentinel Report on blockchain cover?

The Sentinel Report discusses how blockchain is transforming industries, its benefits, challenges, and applications.

When was the Sentinel Report by Globant published?

The Sentinel Report was published on September 15, 2022.

How much is the blockchain market expected to reach in agriculture by 2026?

The blockchain market in agriculture is projected to reach $1.48 billion by 2026.

What percentage of the blockchain market value does the financial sector represent?

The financial sector represents about 30% of the blockchain market value.

What is the projected growth for blockchain in healthcare by 2028?

The projected growth for blockchain in healthcare is expected to exceed $1 billion by 2028.