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While blockchain has gained lots of interest from businesses in recent years, actual use of the technology remains relatively low.
However, new research from cryptocurrency site InsideBitcoins.com shows that around 38 percent of organizations are planning to integrate blockchain solutions into their operations in 2020.
Some 15 percent of these enterprises will adopt blockchain solutions on a large scale while 23 percent will have more moderate operations. The financial sector has the biggest beneficiary of blockchain solutions to date. But the technology’s pillars of decentralization, transparency, and immutability are attractive to many organizations, especially at present.
The report’s authors note that, “During the time of crisis like the current Coronavirus pandemic, blockchain technology might prove important since it cannot be taken offline contrary to centralized tracking services.”
Among other findings are that enterprises are moving towards adopting a range of new technologies motivated by factors ranging from improving efficiency and enhancing customer service. These include public cloud at 79 percent with 72 percent of organizations going for artificial intelligence and machine learning. Organizations also plan to integrate private cloud (70 percent), multi-cloud (63 percent), containers (63 percent), robotic process automation (58 percent), edge computing (46 percent), serverless computing (51 percent) and ChatOps (40 percent).