60% of large corporations think of shifting to blockchain, says the new report

31 July 2017

Juniper Research, a mobile, online and digital market research expert, published its latest report Blockchain Enterprise Survey today throwing the light on the readiness of large corporations to adopt blockchain technologies for their daily activities. According to the figures in the survey 6 corporation out of 10 are currently considering or taking steps to implement blockchain across their operations.

The research successfully polled approximately 400 founders, executives, managers and IT specialists and the findings in the survey reveal that 66% of the companies which have come to the Proof of Concept stage, expect blockchain scheme to be incorporated into their operations by late 2018.

In the report Juniper Research notes that on the basis of the survey findings the company has performed deep dive analysis and detected that best fit opportunities for blockchain implementation include settlement, land registry and digital fiat currency, but all three have significant barriers by scale and variety.

According to Juniper Research, companies that would derive more advantage out of blockchain deployment include those with a need for higher transparency and accuracy in transactions, companies depending on conventional paper-based data systems and processing large volumes of information.

Still, the study specialist prevised the corporations against premature actions despite benefits brought by blockchain innovations, noting that there are risks of undue decisions taken without proper consideration of other options. The study author says that in some cases large businesses would better make allowance for systemic change which would be cheaper than full reorganization with the use of blockchain.

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