38% of Enterprises Plan to Adopt Blockchain Solutions in 2020

38% of Enterprises Plan to Adopt Blockchain Solutions in 2020
06.04.2020 01:34 pm

38% of Enterprises Plan to Adopt Blockchain Solutions in 2020

Blockchain

Data gathered by InsideBitcoins.com indicates that about 38% of organizations are planning to integrate blockchain solutions into their operations in 2020. From the data, 15% of the enterprises will adopt blockchain solutions on a large scale while 23% will have moderate operations.

Blockchain technology gaining popularity

In the course of this year, entities also plan to adopt the Public cloud at 79% with 72% of organizations going for Artificial intelligence (AI) and machine learning. Organizations also plan to integrate Private cloud (70%), Multi-cloud (63%), Containers (63%), Robotic process automation (58%), Edge computing (46%), Serverless (51%) and ChatOps (40%).

Most of the entities are moving towards adopting new technologies due to factors ranging from improving efficiency and enhancing customer service.

However, over recent years, blockchain technology has been gaining a lot of popularity. The financial sector is the biggest beneficiary of blockchain solutions. The technology’s pillars of decentralization, transparency, and immutability are attractive to many organizations. According to the report:

"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."

The report further places customer experience as the main motivation behind entities adopting new technologies with 69% of entities considering it important while 24% find it somewhat important. Improving product quality and services is second with 57% considering it very important, while 39% find it somewhat important.

Additionally, enterprises also consider new products as the reason behind digitization with 53% finding it important while 41% find it somewhat important. For a growing market drive, 53% consider it important while 33% find it somewhat important in driving digitization.

Elsewhere, technology is also a priority with 52% finding it important while 43% consider it somewhat important. Saving costs account for 52% importance while 42%  of entities find it somewhat important.

Only 40% of business entities consider workforce re-skilling as important while 48% is somewhat important. Partners also play a role with 31% of enterprises considering it important while 52% find it somewhat important. 

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