Sixty Percent of Corporations Planning Blockchain Deployment According To New Research

Some 60% of large corporations are either implementing blockchain technologies, or in the process of researching how they could impact their businesses, according to new research published today.

As per the findings from Juniper Research, a UK-based research firm, 57% of respondents have said they are actively considering or working through blockchain proposals, as the technology continues to gain prominence across commercial sectors.

Their report, which surveyed over 400 managers, executives and founders, saw strong support for blockchain driven solutions, which have the capacity to deliver sweeping efficiency gains, operational gains, and cost savings across a range of business and commercial functions.

The research further found that a further 66% of those who already at the proof-of-concept phase had suggested their platforms would be ready for deployment in 2018, which is already shaping up to be a big year for the technology.

With the sheer number of companies engaging in blockchain development to their own ends, the technology looks unstoppable. However, given the technical, and often regulatory demands on developers, there are still challenges ahead for those who seek to harness the power of blockchain technology.

"Companies may have underestimated the scale of the blockchain challenge. For issues such as interoperability, the proportion of survey respondents expressing concerns progressively increased as companies proceed towards full deployment, while concerns also rose sharply regarding client refusal to embrace blockchain."

The report goes further, suggesting that while many business and industries stand to benefit from the technology and its applications, there may be more systemic change required in some businesses to experience the full upsides.

“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.”

While blockchain is no doubt a major shift for companies looking to adopt it, other analysts are quick to point to the range of benefits that could come from the technology.

Already deployed to good effect in various different use cases, the coming twelve months are looking set to be amongst the most influential to date for the blockchain.