Last month, Provide Technologies, Emory University and Aprio kicked off the State of the Enterprise Blockchain Study. So far we have surveyed about 100 enterprises ranging from Fortune 50 companies to startups. While the survey is open until January 31st, preliminary responses reveal three key trends.
Smaller companies are investing faster in blockchain
With ranges from $20M to nothing at all, one of the immediate surprises of this study was how much more resources smaller businesses are putting behind blockchain. It will be interesting to see if this early investment in blockchain disrupts enterprises into action.
Security is the key driver for blockchain investment
Blockchain is a much better solution to storing and exchanging digital value than anything that has come before it. It makes sense that security is the primary value that all businesses see for blockchain-based solutions, and if it takes some extra blocktime to reach consensus securely, the enterprise is willing to wait.
6 years until blockchain is mainstream
Most respondents believe blockchain is still in its early days. Tooling to accelerate development is still maturing, resources and internal skills are hampering getting started, and business cases are still being proven to deliver business value. Yet, over 75% of respondents believe blockchain will become part of the enterprise infrastructure by 2025, with 29% thinking it will take that long to really hit its stride.