Market Overview
Last updated
Last updated
The financial landscape has been undergoing a significant transformation with the advent of blockchain technology and decentralized finance (DeFi). Traditional financial systems have faced various challenges, leading to the rise of innovative solutions like the Stream Protocol. Let's explore the market size and the problems faced by traditional financial systems:
E-commerce is growing yearly at an unprecedented speed. In 2021, there will be 2.14 billion digital buyers overall. Moreover, it is estimated that retail e-commerce will grow from 4.28 trillion USD to 5.4 trillion USD from 2020 to 2022. In addition, online shopping is currently 3% of the total GDP.
There are a few strong traditional competitors in the field. For example, market leader PayPal had 392 million active accounts and 4.4 billion transactions with 285 billion of total payment volume in quarter one of 2021. Additionally, almost 2 million websites use Stripe, which is payment processing software for online businesses. More specifically, SatoshiPay and Strike are considered true competitors for Stream Protocol due to their focus on micropayments.
Resources:
Statista.com. July 2017. . 30.1.2023
Statista.com. December 2020., 30.1.2023
D., Bryan. March 2021. . Read 30.1.2023
PayPal. , read 30.1.2023
SatoshiPay, , read 30.1.2023
Strike, , read 30.1.2023