Experts predict that the blockchain market will grow around $20 billion USD every year and continue to do so until the end of 2024. Blockchains were initially used to secure transactions, but are now expanding rapidly into areas such as decentralized finance (DeFi), healthcare, telecommunications, transport and retail. It comes naturally that enterprises and smaller businesses will start to look at how they can employ the blockchain to their advantage. Currently, multiple blockchain ecosystems are starting to focus on next-generation consumer applications. One such ecosystem is Phoenix Global. There are several advantages to using Phoenix Global: Better customer experience Blockchain can track passenger’s luggage as data of each transaction is available at every node, solving a big issue with international travel. This tamper-proof blockchain system proves the traveler’s identity more easily, preventing travel delays and lowering transaction costs. Phoenix Global enhances the privacy of customer data by integrating blockchain with the AI technique of Federated Learning. In the retail industry, convenience fees for payment gateways increase the transaction costs. Since blockchain is a decentralized system, there is no intermediary between the transacting parties. Global digital payment system Blockchain allows for secure, fast, and hassle-free payments across borders. Such an efficient payment system can revo...
