Could Blockchain Tech Be Moving Closer to Enterprise Adoption?


With the vast potential of blockchain, even the staunchest of its critics seem to be coming around. That is, of course, depending on whom you speak to and which research you use. Reputable Big Four multinational Deloitte reports that three in four large companies see a compelling case for blockchain. Yet British research specialists at Gartner say that just 1 percent of CIOs are actually using it. This leads to an interesting question provoking a slew of answers: If blockchain is as great as they say it is, why aren’t 99 percent of companies around the world getting on board? Overhyped, overkill, expensive, un-user-friendly, clunky, impractical… the list goes on. So while a small few companies are finding success with blockchain tech, widespread enterprise adoption still seems like a distant dream. What’s Stopping Enterprises From Adopting Blockchain? Cybercrime is predicted to cost global businesses in the ballpark of $6 trillion a year by 2021. You would have thought that CIOs around the world would be chomping at the bit to get their hands on a secure and unhackable solution. However, some unfortunate truths remain. Overhauling existing systems is expensive. Blockchain tech is complex and has undeniable usability issues. Blockchains can also be slow and cumbersome, and then compatibility issues remain. So while global giants with deep pockets can see the potential – or are busy applying for patents and experimenting in labs – the small-to-medium sized businesses have been standing on the sidelines. Until now. What About a Trial Run?…
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