Report: By 2024, the blockchain will generate $1.37 billion in revenue in the global telecommunications sector

On April 2, data from the Irish market research firm Research and Markets showed that by 2024, blockchain technology will generate $1.37 billion in revenue in global telecommunications applications. During the forecast period, blockchain-related applications will grow at a compound annual growth rate (CAGR) of 77.9%. According to the report, the growth of the blockchain in the telecommunications sector is based on a number of key factors such as growing security concerns, the need for fraud management, the implementation of 5G, and the growing number of blockchain alliances.