65% of enterprises plan to utilise blockchain technology

Almost two thirds of enterprise companies are planning to introduce blockchain technology to their business, a new study from Juniper Research reveals.

The research, which looked at more than 10,000 employees of enterprises, showed that 65 per cent of these firms are considering blockchain deployment in the near future. This figure is much higher than in 2017, when 54 per cent said the same.

James Moar, co-author or the study, said: “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.”

Another interesting result points to the ways in which the technology is being implemented, with just 15 per cent of use cases in the past year related to payments – down from 34 per cent the previous year.

This indicates that blockchain is not only being used in its most obvious and well-known form, but for a diverse array of purposes that’s set to grow as time goes on.

Ethereum came out strong with almost half of companies considering it as their blockchain, and those that have already invested $100,000 into blockchain technology all indicated that they would be investing the same amount or more over the next 12 months.

This contradicts some of the research that has shown a lack of follow-through for many blockchain projects, with Forrester findingin August that 90 per cent of projects in 2018 would be delayed, closed or never become part of the parent company’s operations.

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