Reported on July 31, 2017, a study by analyst firm Juniper Research identifies that nearly 6 out of every 10 (57 percent of) large corporations with more than 20,000 employees are or will be developing strategies involving blockchain technology in order to meet the now global technological trend sweeping across industries.
According to the report, around 400 company founders, executives, managers, and IT professionals answered the survey that sought to assess the fitness of blockchain programs among companies at or beyond the proof-of-concept stage. 66 percent of these companies expect to have the technology successfully integrated by the fourth quarter of 2018.
The research indicated that companies with a need for transparency which are currently dependent on paper systems or engaged in a high volume of transactions would best be able to apply blockchain technology to suit their needs.
Still, research author Dr. Windsor Holden warns, "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 the report highlights an enterprise level of acknowledgment regarding blockchain technology, it also advises caution. As more companies reach forward and seek to embrace the technology, it is more likely that the disruption Holden speaks of will not be cost-inhibitive, and may pave the way forward for more use cases and industry adoption.