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Blockchain Is Coming to the Large Enterprises

September 11 — A new survey from Basingstoke-England based Juniper Research found that 65 percent of responding enterprises with over 10,000 employees are considering or actively engaged in blockchain deployment, marking a significant rise in this measure from last year (54 percent).

According to the Blockchain Enterprise Survey: Deployments, Benefits & Attitudes (second edition), nearly a quarter of companies considering deploying blockchain had moved beyond proof of concept into trials and commercial rollouts, with dramatic diversification in use cases over the past year. Only 15 percent of proposed deployments were now related to payments (compared with 34 percent last year), with significant interest in opportunities across diverse fields including logistics, authentication and smart contracts.

The findings tally with those from Juniper’s attendant Future of Blockchain research, which identifies savings and cost reductions across a range of verticals in areas such as compliance and fraud reduction, including more than $100 billion by 2030 in food exports.

Ethereum Gaining Traction

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

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

Disruption Expected

However, around three quarters of respondents expect disruption to either internal systems or clients’ systems. As research co-author James Moar observed, “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.”

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

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