BASINGSTOKE, England–(BUSINESS WIRE)–A brand new research from Juniper Research has discovered that almost 6 in 10 (57%) giant companies1 are both actively contemplating, or are in the method of, deploying blockchain know-how.
Almost 400 firm founders, executives, managers and IT responded to the Blockchain Enterprise Survey; amongst corporations who’ve reached the PoC (Proof of Concept) stage, two-thirds (66%) anticipated blockchain to be built-in into their techniques by the tip of 2018.
‘Best Fit’ for Blockchain
Using information from the survey, the corporate’s attendant deep dive strategy report recognized settlement, land registry and digital fiat foreign money as ‘best fit’ alternatives for blockchain deployment, however cautioned that for every of those alternatives the size and number of boundaries have been important.
The analysis claimed that these corporations which might profit most from blockchain embrace these with:
• A necessity for transparency and readability in (trans)actions;
• A present dependence on paper-based legacy storage techniques;
• A excessive quantity of transmitted info.
Internal Disruption & Interoperability Key Concerns
However, Juniper argued that whereas consciousness of blockchain and its advantages had elevated dramatically in the previous 12-18 months, there was the hazard that corporations may search to deploy blockchain with out having first thought-about different choices. According to analysis writer Dr Windsor Holden: “In many cases, systemic change, rather than technological, might be a better and cheaper solution than blockchain, which could potentially cause significant internal and external disruption.”
Indeed, the analysis discovered that corporations could have underestimated the size of the blockchain problem. For points resembling interoperability, the proportion of survey respondents expressing considerations progressively elevated as corporations proceed in the direction of full deployment, whereas considerations additionally rose sharply concerning consumer refusal to embrace blockchain.
The complimentary whitepaper, ‘Which Industries are the Best Fit for Blockchain?’, is offered to obtain from the Juniper web site along with additional particulars of the total analysis and the attendant IFxl (Interactive Forecast Excel).
Juniper Research is acknowledged because the main analyst home in the digital commerce and fintech sector, delivering pioneering analysis into funds, banking and monetary providers for greater than a decade.
1 Defined as having over 20,000 workers