Study: Nearly 6 in 10 large corporations considering blockchain deployment

Aug. 1, 2017

Nearly six in 10 (57 percent) large corporations are either actively considering, or are in the process of deploying, blockchain technology, according to a new study by Juniper Research.

Almost 400 company founders, executives, managers and IT professionals responded to the Blockchain Enterprise Survey; among companies who have reached the proof of concept stage, two-thirds (66 percent) expected to integrate blockchain into their systems by the end of 2018.

The company's deep dive-strategy report identifies settlement, land registry and digital fiat currency as "best fit" opportunities for blockchain deployment, but cautions that each comes with significant barriers, according to a press release.

The research found that companies that would benefit most from blockchain implementation meet three criteria:

  • the need for transparency and clarity in transactions;
  • a current dependence on paper-based legacy storage systems; and
  • a high volume of transmitted information.

However, Juniper noted that while awareness of blockchain and its benefits has increased dramatically in the past 12 to 18 months, there is a danger that companies might seek to deploy blockchain without having first considered alternative options.

"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," Windsor Holden, the author of the report, said in the release.

Topics: Bitcoin, Trends / Statistics

Companies: Juniper Research

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