The semiconductor industry is one of the fastest growing sectors in technology. Information provided by the Semiconductor Industry Association (SIA) reveals that global sales of semiconductors reached $40.16 billion for the month of August 2018, which was a 14.9% year-on-year increase compared to August 2017. Market research consultant Stratistics MRC has also stated that many semiconductor companies have started to adopt IoT to drive new revenue and growth models. A report from Accenture too supports the fact that the semiconductor industry is the most bullish one when it comes to integrate blockchain within their industry and the impact of AI. Syed Alam, who leads Accenture's semiconductor practice, says: "Throughout the industry's complex supply chain, blockchain simplifies business operations leveraging semiconductor chips and related technologies. "This faster traceability will improve companies' business operations and accelerate delivery of their products to market - while enabling them to do so at lower costs.