New research by fintech analysts Juniper House has discovered that blockchain traction with large companies has increased by 11% this year, according to a press release published on September 11th.
Juniper survey on Blockchain Enterprise: distributions, benefits and attitudes (Second Edition) found that 65% of large respondent companies – defined as those employing a minimum of 10,000 employees – are "considering or actively engaged" in the distribution of blockchain, with an increase of 11% compared to the corresponding 54% of the last year.
Further data analysis shows that almost a quarter of companies have passed the concept blockchain tests on commercial trials and implementations. The potential scope of technology's application has also expanded, with only 15% of the blockchain applications proposed by the payment companies – compared to 34% of the last year
. The press release notes that there has been a "significant" interest in logistics, authentication and smart contracts.
Although Ethereum (ETH) has recently hit the spot markets, Juniper's findings also reveal that almost half of the responding companies are planning to take advantage of the platform's standardization potential to launch their proprietary dApps (Distributed Applications) on the blockchain of Ethereum.
Among the companies that had already invested over $ 100,000 in blockchain, they had planned to spend "at least" the same amount in the next year. Juniper noted that this demonstrates a "largely positive" initial feedback on investment in technology, sufficient for companies to support their existing commitments to pursue their development.
James Moar, co-author of Juniper's research, cites however as potential challenges posed by integrating the blockchain into legacy systems:
"The results illustrate the need for companies to engage in a prolonged period of parallelism of new systems together to the old ones, to iron out any problems that might arise. "
Interestingly, among the incumbent technology giants, IBM was the most popular company for blockchain solutions – 65% of respondents defined it as its "choice" – surpassing Microsoft's rival company of almost 10 times, which got 7% and ranked second. 19659010] A recent survey conducted by the "Big Four" auditor Deloitte found that among the companies that are facing the implementation of legacy blockchain solutions, 74% of all respondents said that own executive team believes there is a "compelling business case" for their implementation.