More than half of large companies considering blockchain use
A new study from Juniper Research has found that 57 percent of large corporations are either considering or actively deploying blockchain solutions.
Of the companies that have reached the proof of concept stage, 66 percent are planning to deploy blockchain technology by the end of 2018, according to a press release.
A poll of executives at 400 large corporations revealed that settlement, digital fiat currency and land registry are perceived to be the best areas for the application blockchain technology. Companies that depend on paper-based storage systems, deal with large amounts of information, or demand clear and transparent transactions would greatly benefit from blockchain technology, Juniper found.
The study cautions that companies should consider alternatives before pursuing blockchain technology, given that survey respondents tended to express more concerns about blockchain technology as their companies moved closer to full adoption.
"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," said Dr. Windsor Holden, the author of the report.