Juniper Research, the UK-based market research company, has released a new survey report which states that nearly 6 in 10 (57%) large corporations (having over 20,000 employees) are either actively considering, or are in the process of, deploying blockchain technology.
The Blockchain Enterprise Survey included the opinion of almost 400 company founders, executives, managers and IT. According to the official release, amongst companies who have reached the PoC (Proof of Concept) stage, two-thirds (66%) expected blockchain to be integrated into their systems by the end of 2018.
Based on survey data, the report identified settlement, land registry and digital fiat currency as ‘best fit’ opportunities for blockchain deployment. However, it cautioned that for each of these opportunities the scale and variety of barriers were significant.
According to the report, the companies that would benefit the most from this emerging technology include those with a need for transparency and clarity in (trans)actions; a current dependence on paper-based legacy storage systems; and a high volume of transmitted information. At the same time, Juniper cautioned companies to first consider alternative options before deploying blockchain.
“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,” research author Dr Windsor Holden said.
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