Research: 65% of Companies Are Considering Blockchain Tech

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Companies Considering Blockchain Tech

A recent study from Juniper Research that delved into the extent and current state of blockchain investment, as well as deployment, has revealed that 65% of companies are considering blockchain tech as part of their future plans.

All businesses involved in the survey, which costs $1,650 to download, are land registry, healthcare, food provenance, automotive and financial services firms that currently have 10,000+ employees on their payroll.

The information volunteered by these companies revealed that the number of firms seeking payment-based blockchain solutions is much less than before. In addition to this, most companies would choose the Ethereum platform, while IBM was voted in favor of Microsoft as the choice company for potential blockchain deployment services.

Fewer Companies Seeking Payment Based Solutions Than Previous Results

Last time Juniper Research conducted a similar survey, 34% of blockchain projects being considered were payment-based solutions. In the latest survey, that figure dropped to a mere 15%.

This suggests that over the course of one year, the business world, in general, is becoming far more aware of the fact that blockchain tech offers more than just crypto-based payments solutions. This backs up claims made by Vitalik Buterin, who pointed out that “most people have already heard about the blockchain” in an earlier controversial news story published this week.

An increasing number of businesses are seeking blockchain tech that can improve logistics and authentication. Certainly, the increasing popularity of logistics based solutions makes sense, as an increasing number of large corporations are adopting blockchain tech to streamline the logistical side of their business.

Ethereum Architecture the Platform of Choice

Another interesting point made in the survey was research into which blockchain technologies were being considered at this time.

Surprisingly, the Ethereum platform gained almost 50% of the votes. The possible reason behind its majority selection is that the network has long been known for its dApps and smart contract functionalities, making it a flexible, as well as a popular platform to create blockchain-based solutions for businesses.

Nonetheless, this also suggests that despite Buterin’s comments, that while an increasing number of companies are now more aware of blockchain tech, it would appear the smaller competing ICOs are still being overlooked and not gaining as much recognition as they maybe should be.

Ethereum’s network has had its fair share of problems recently, with many start-ups ditching the platform in favor of more secure systems, which means alternatives are being ignored. For example, companies such as Tron (TRX)’s network is still worth considering. Tron claims its network is 400 times faster than Ethereum and has been designed to solve the current flaws the Ethereum network currently experiences.

IBM Most Likely To Be Selected For Deployment

Out of the companies mentioned by Juniper Research, IBM gained 65% of respondents’ votes as being the first choice company to deploy blockchain solutions. Next was Microsoft with just 7%; while, Accenture, Deloitte, Oracle, and others shared the remaining votes.

This most recent report follows suit with earlier statistics gathered by SharesPost Research. The company surveyed consumers and investors in which a large majority said that their employers plan to introduce blockchain tech to their business in the future.

Adding the recent results from SharesPost to the current Juniper Research, and overall the general consensus appears to be that businesses are indeed looking at a future that involves blockchain technologies.

My name is James. I am 39 years old and a proud father. My hobbies include football (soccer), tennis, swimming and cycling, and I also love travelling. Another hobby of mine is staying up to date with the financial markets - I used to work within the financial sector as an IT engineer setting up Reuters and Bloomberg market data feeds. During that time I learned a lot about the financial industry and came across the blockchain in its early conception. It wasn't until around 2015 I really started to take a keen interest in its development. Since then I have been studying the progress of the blockchain and investing in cryptocurrencies. I now contribute news, data, and reviews about ICOs, blockchain solutions, and cryptocurrencies regularly. I truly believe that disruptive blockchain tech will be an integral part of all of our futures. As such I plan to continue following trends, breaking news, and the future development of blockchain solutions across all industries.

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