Increasing Demand for Blockchain Sets Nvidia Up for Big Profits

Today, many companies are already adopting Blockchain technology. Market and Markets reports that the Blockchain market size is likely to grow from last year’s $210.2 mln to $2,312.5 mln in 2021.

Though Blockchain mainly targets banks, payment systems, and financial institutions, other companies have seen promise in the technology as well. Airbnb, Uber and Capital One are just a few of the major corporations integrating Blockchain into their systems. This move may make one chipmaker, Nvidia, some extra profit.

Why are they adopting Blockchain?

Right now, banks worldwide are prone to cyberattacks, hacks and malware, causing consumers to lose confidence in ATMs and credit cards due to the threat of identity theft.Financial institutions have also shown themselves to be surprisingly prone to losing customer data, and in the process, consumer trust. Blockchain technology aims to help lessen and combat such security concerns by helping to prevent identify theft and counterfeit transactions.

Former Ethereum lead developer Roman Mandelei shared:

“I think the identity hacking will be solved through Blockchain because if your identity is controlled by one private key that is saved by you personally, there is no way to hack it, or at least much less than in the traditional database systems.”

Blockchain boost great for Nvidia business

With various large corporations are now looking at integrating Blockchain technology into their current systems, such move could positively reflect on Nvidia’s sales. Major firms like IBM and Samsung are already hiring more Bitcoin and Blockchain experts than ever before for their new initiatives. If these companies use chips produced by Nvidia, it would mean big wins for the chip manufacturer.

Source