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Large enterprises accelerating with blockchain projects

Nearly half of companies were considering using Ethereum as their blockchain

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Nearly a quarter of companies had moved beyond proof of concept
Nearly a quarter of companies had moved beyond proof of concept

Two thirds of enterprises (65 per cent) with more than 10,000 employees are considering or actively engaged in blockchain deployment, according to a new study from Juniper Research. This marks a significant rise from 2017 when the corresponding figure was 54 per cent.

 

The report, Blockchain Enterprise Survey: Deployments, Benefits and Attitudes, also found that nearly a quarter of companies considering deploying blockchain had moved beyond proof of concept into trials and commercial roll-outs, with dramatic diversification in use cases over the past year.

 

Diverse fields

 

Only 15 per cent of proposed deployments were now related to payments compared with more than one third last year (34 per cent), with significant interest in opportunities across diverse fields including logistics, authentication and smart contracts.

 

The survey findings revealed that nearly half of companies were considering using Ethereum as their blockchain; reflecting the fact that its token standardisation has enabled the creation of an ecosystem of distributed applications (dApps) to be built on its chain.

“The findings illustrate the need for companies to engage in a prolonged period of parallel running new systems, alongside the old, to iron out any issues that might arise"

Furthermore, all responding companies which had already invested over $100,000 in blockchain indicated they would be spending at least this amount again on the technology over the next 12 months. Juniper claims this demonstrated initial feedback had been largely positive in most cases, sufficiently so for companies to move to the next stage of integration.

 

Some three quarters of respondents, however, expect disruption to either internal systems or clients’ systems. “The findings illustrate the need for companies to engage in a prolonged period of parallel running new systems, alongside the old, to iron out any issues that might arise,” said James Moar, senior analyst at Juniper Research and co-author of the report.

 

The survey responses also cemented IBM’s position as the go-to company for deployment, with the tech giant ranked first by 65 per cent of respondents, nearly 10 times that of second-placed Microsoft (7 per cent).

 

Later this afternoon, SmartCitiesWorld will publish the findings of a blockchain survey that aims to gauge the level of understanding that exists with regards to smart city deployments.

 

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