According to research by analyst firm Blockdata, 81 out of 100 large companies are using or exploring blockchain technology.
Blockdata analysts conducted
survey among the world’s 100 largest companies to find out if they are using blockchain in their workflows. Among them, 81 companies have shown interest in blockchain and distributed ledger technology (DLT). Of this number, 65 companies are actively developing blockchain-based solutions.
According to Blockdata, 16% of companies are exploring the possibilities of this latest technology and how it can improve their operations. These companies are developing Proof-of-Concepts, looking for partners, but not doing actual development for the core business. 14% of companies have already started pre-testing blockchain solutions.
24% of surveyed companies are at the stage of developing a finished product or have already conducted several successful tests. 27% of survey participants already have a finished product or service based on blockchain, which is used by employees, partners and customers of these companies. Only 19% of companies that studied the potential of blockchain stopped researching and did not start innovative solutions.
It turned out that companies mainly prefer corporate solutions with the ability to differentiate access. Hyperledger Fabric is the most preferred blockchain among the surveyed companies, 26% of respondents use it. Ethereum blockchain is used by 18% of organizations, Quorum accounts for 11% and Corda – 8%.
Blockdata also highlighted the main use cases for blockchain among the surveyed companies. First of all, they provide other firms with their software based on the concept of BaaS (blockchain-as-a-service), allowing them to create their own solutions. Companies in the survey also use blockchain to transparently track supply chains and control product quality.
In addition, they use it for faster clearing and settlement at no extra cost. Traditional players have begun to realize that blockchain can improve their business processes. Otherwise, firms may start to lag behind their competitors willing to introduce innovative solutions, Blockdata analysts concluded.
According to a recent study by Blockdata, 55 of the world’s 100 largest banks invest in blockchain and cryptocurrency firms.
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