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BY THE NUMBERS: BLOCKCHAIN GOES GLOBAL
As blockchain technology matures, decision makers across industries worldwide see blockchain’s lofty promise of operational efficiency and business opportunity as reason enough to invest time, money and effort in experimenting with distributed ledger databases, consensus algorithms, and PKI cryptography technology to future-ready their companies.
LEARN MORE ABOUT BLOCKCHAINSurveying the Blockchain Landscape
Blockchain is moving from an interesting talking point to a foundational element in modern enterprise computing strategy. That’s the key takeaway from our study of 3,000-plus decision makers across disciplines, geographies and industries, many of whom told us that blockchain experimentation has spread throughout their organizations, exceeding earlier expectations.
BLOCKCHAIN PERCEPTIONS
How important is blockchain to the future of your industry?
Respondents consider blockchain “very important” to their industry:
C-Suite leads other titles at
60%
U.S. leads other regions with
60%
Healthcare leads other industries with
57%
Multiple “factors cited as the driving forces” for blockchain adoption. APAC and Middle East region respondents consider “disruption” (29%) as the most important reason vis-à-vis other regions.
Respondents believe blockchain is expected to generate “new opportunities” of different kinds
Many organizations are planning to adopt either “private,” or permissioned, networks.
However, manufacturing has the highest percentage of respondents who say they are planning to adopt open blockchain.
37%
EXPECTED COST
SAVINGS
2.5%+
EXPECTED REVENUE GROWTH
5–10%
Most respondents show only a “Medium” level of trust among blockchain ecosystem partners with the exception of the insurance industry.
HOW BLOCKCHAIN IS BEING ADOPTED
Most respondents say they have already defined a strategy for blockchain. APAC and Middle East region (54%) and Healthcare (55%) and Insurance (52%) lead other industries
Skills gaps are being identified, with solutions ranging from traditional training/hiring to establishing innovation labs.
Consortia isn’t high on the blockchain agenda; build or buy options are under consideration at many organizations
Of the five top external roadblocks to adopting blockchain strategy, working with ecosystem partners figures as one with significant percentage. Many organizations are addressing legacy systems integration with multiple options.
BLOCKCHAIN CHALLENGES
Platform selection is regarded as a serious challenge with the “level of difficulty” indicated as either high or medium by many.
Lack of expertise in building use cases is a top challenge as cited by many respondents.
Among the many external roadblocks, Privacy & Security and Scalability top the charts.
SO ARE YOU READY FOR BLOCKCHAIN?
Visit the blockchain section of our website to learn more about how we can help you make make the shift.
VISIT NOWDownload our eBook to discover how blockchain works and how it’ll change your business.
EBOOK: DEMYSTIFYING BLOCKCHAINBLOCKCHAIN INSIGHTS
SURVEY DETAILS
OUR FOCUS
- The perceptions of senior executives on blockchain strategy.
- The major driving forces for the adoption of blockchain strategy.
- To understand how their blockchain adoption initiative is progressing.
- How organizations’ blockchain initiatives are progressing.
- Key strategic challenges.
METHODOLOGY
- Our research study was conducted across U.S., Europe, Canada and APAC.
- Data was collected via an online sruvey.
- 3200+ respondents were surveyed.
- Respondents included C-Suite executives, Vice Presidents, Directors, Senior Managers and Managers across line of business, innovation, IT and operations functions.
- Industries studied include Banking and Financial Services, Manufacturing and Logistics, Retail, Healthcare and Insurance.
- Data was collected by third-party service provider E2E Research.
- The data was tabulated, analyzed and presented by Cognizant Research Center.
INDUSTRIES
GEOGRAPHIES
EXPLORE THE FULL REPORT
Gain deeper insight into the perspectives of senior executives on blockchain and the major factors affecting its adoption.
DOWNLOAD PDF (9.9 MB)