Blockchain Is On The Way But Adoption Is Slow

Blockchain Is On The Way But Adoption Is Slow


Given that blockchain technology first emerged ten years ago, Gartner’s recent finding that the business impact of blockchain will be transformational in five to ten years is surprising. Blockchain, especially over the past 12 months, has become a business buzzword and everyone is looking for the best way to apply it.

However, according to the 2019 Gartner Hype Cycle for Blockchain it will be five to ten years before the technology becomes transformational in most industries.

The Hype Cycle provides an overview of how blockchain capabilities are evolving from a business perspective and maturity across different industries. Based on the findings of the Gartner 2019 CIO Agenda Survey ( registration required ), the hype cycle shows three industries that Gartner believes will move to adoption. 1. Banking and Investment Services

Nearly 18 percent of banking and investment services CIOs said they have adopted or will adopt some form of blockchain technology within the next 12 months and nearly another 15 percent within two years.

Related Article: What Blockchain Companies Need To Do To Succeed 2. Gaming

In the fast-growing e-sport industry, blockchain natives are launching solutions that allow users to create their own tokens to support the design of competition as well as to enable trading of virtual goods. 3. Retail

Blockchain is being considered for “track and trace” services, counterfeit prevention, inventory management and auditing, any of which could be used to improve product quality or food safety, for example. Five Year Enterprise Roll-Out Jimmy Nguyen, the president of the […]