Dublin, Dec. 20, 2024 (GLOBE NEWSWIRE) -- The "Strategic Intelligence: Blockchain in Mining (2024)" report has been added to ResearchAndMarkets.com's offering.
Global blockchain software and services market will grow from $12 billion in 2023 to $291 billion in 2030, expanding at a compound annual growth rate (CAGR) of 55%.
Blockchain applications are limited in mining but include supply chain management and tracking Scope 3 emissions.
The "Blockchain in Mining" thematic intelligence report gives you an in-depth insight into the impact of blockchain in mining, including key players, challenges, and market size and growth forecasts. The report elucidates the growing importance of blockchain in the mining sector along with the progress made by the leading mining companies to adopt blockchain. These detailed analyses are critical in developing effective business plans to gain a competitive edge.
Supply chain management is the main use case in mining
The mining industry's supply chain is complex, and implementing blockchain-based platforms can enable the tracing of materials. With blockchain, mining companies can maintain digital records of the entire mineral value chain. Every attribute can be captured, and documents can be updated when the process demands an upgrade.
Mining companies can enhance their visibility and engender trust within the market, while sellers can share their digital register details. However, robust IT infrastructure and a high degree of digitalization are prerequisites to adopting blockchain. Small mining operations that rely on paper-based documentation will struggle to adopt blockchain.
Blockchain is not always appropriate
The capabilities and drawbacks of blockchain are not widely understood. A poll conducted by the analyst in 2024 revealed that just 24% of respondents fully understood the technology. Lack of understanding, coupled with the hype surrounding blockchain, can lead to misaligned expectations, resulting in blockchain adoption being driven by novelty without consideration for its appropriateness.
Mining companies must remember that blockchain is not always the optimal solution. Implementing blockchain can be complex, whereas a traditional database offers efficiency and simplicity and will suffice for many use cases.
To mitigate the risks of adopting blockchain, mining companies should use blockchain as a service (BaaS) to avoid the high upfront costs of developing blockchain solutions in-house.
Reasons to Buy
- Discusses the challenges the mining industry faces and how blockchain can be used to help address them.
- Evaluates the impact of blockchain in the mining sector, including various use cases and case studies.
- Benchmarks leading blockchain vendors, and leading mining companies based on their adoption of blockchain.
Key Topics Covered:
- Executive Summary
- Players
- Value Chain
- Mining Challenges
- The Impact of Blockchain on Mining
- Case Studies
- Market Size and Growth Forecasts
- Blockchain Timeline
- Signals
- M&A trends
- Company filing trends
- Companies
- Leading blockchain adopters in mining
- Leading blockchain vendors
- Specialist blockchain vendors in mining
- Sector Scorecard
- Mining sector scorecard
- Glossary
Companies Featured
- Accenture
- Agnico Eagle Mines
- AKT
- Alchemy
- Alibaba
- Alphabet
- Alrosa
- Amazon
- AMD
- Anglo American
- AngloGold Ashanti
- Antofagasta
- Arbitrum
- ArcelorMittal
- Aura
- Axedras
- Barrick Gold
- BHP
- Bitcoin
- Bitcoin Lightning Network
- Boliden
- Broadcom
- Broadridge
- Chainlink
- Chainstack
- China Coal Energy
- China Molybdenum
- China Shenhua Energy
- Chronicled
- Cisco
- Citigroup
- Coal India
- Coinbase
- ConsenSys
- Contour
- Cosmos
- De Beers
- Dell
- Energy Web
- Ericsson
- Ethereum
- EVRAZ
- First Quantum Minerals
- Fnality
- Fortescue Metals
- Freeport-McMoRan
- Glencore
- Gold Fields
- Grupo Mexico
- GSBN
- Hindalco Industries
- HPE
- HSBC
- Huawei
- Hyperledger
- IBM
- Impala Platinum
- Infosys
- Intel
- Jiangxi Copper
- Jiangxi Ganfeng Lithium
- JPMorgan Chase
- Juniper Networks
- Kaleido
- Kinross Gold
- Komgo
- Lenovo
- Mastercard
- Microsoft
- MineHub
- Minespider
- MOBI
- Moralis
- Newmont
- Nippon Steel
- Nokia
- Nornickel
- Northern Star
- NTT Data
- Nvidia
- Oracle
- Peer Ledger
- PharmaLedger
- Polkadot
- Polygon
- Polymath Network
- Polymetal International (now called Solidcore Resources)
- Polyus
- POSCO
- Powerledger
- QuikNode
- R3
- RCS Global
- Rio Tinto
- Ripple
- RUSAL
- Samsung Electronics
- Saudi Arabian Mining
- Seagate
- Severstal
- Shaanxi Coal Industry
- Shandong Gold Mining
- Sibanye-Stillwater
- SK Hynix
- Societe Generale
- South32
- Sumitomo
- Sumitomo Metal Mining
- Tata Consultancy Services
- Tata Steel
- Teck Resources
- Tencent
- Thales
- Tianqi Lithium
- Toshiba
- TradeWaltz
- tZero
- Vale
- Vedanta
- Visa
- Walmart
- Western Digital
- Wipro
- Yanzhou Coal Mining
- Zijin Mining
For more information about this report visit https://www.researchandmarkets.com/r/8vqhkk
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