Many large enterprises taking blockchain projects to next level, Juniper Research

Initial feedback from blockchain projects has been largely positive, sufficiently so for companies to move to the next stage of integration

65% of large enterprises with over 10,000 employees are considering or actively engaged in blockchain deployments, according to Juniper Research. This marks a significant rise from research carried out last year, when the corresponding figure was 54%.

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. Only 15% of proposed projects were now related to payments (compared with 34% last year), with significant interest in opportunities across diverse fields including logistics, authentication and smart contracts.

The findings tally with a previous Juniper Research report which identified 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

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 dApps to be built on its chain.

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. According to Juniper Research, this demonstrates that initial feedback has been largely positive in most cases, sufficiently so for companies to move to the next stage of integration.

Disruption expected

At the same time, however, around three quarters of respondents expect disruption to either internal systems or clients’ systems. Juniper Research’s James Moar comments: “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.”

IBM has cemented its position as the go-to company for deployment, with the tech giant ranked first by 65% of respondents. Microsoft was in second place with 7%..

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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