Amongst companies who have reached the PoC (Proof of Concept) stage, two-thirds (66%) expected blockchain to be integrated into their systems by the end of 2018. Report data has revealed that the ‘best fit’ opportunities for blockchain deployment are settlement, land registry and digital fiat currency, but cautioned that for each of these opportunities the scale and variety of barriers were significant.
The research claimed that those companies that would benefit most from blockchain include those with a need for transparency and clarity in (trans)actions; a current dependence on paper-based legacy storage systems; a high volume of transmitted information.
However, Juniper argued that while awareness of blockchain and its benefits had increased dramatically in the past 12-18 months, there was the danger that companies might seek to deploy blockchain without having first considered alternative options.
The Blockchain Enterprise Survey was based on responses from almost 400 company founders, executives, managers and IT representatives.
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