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An impressive 57 percent of large corporate firms are either in the process of deploying blockchain technology or are currently weighing how to do so.
That’s the latest finding from U.K.-based Juniper Research, which surveyed 400 corporate founders, managers and executives for its latest report.
Also notable in the research findings is that 66 percent of those firms already at the blockchain proof-of-concept phase envision working the tech into their current operations by the end of 2018.
These are a bullish figures, ones that reveal just how many companies are now developing blockchain prototypes and fleshing out potential commercial-scale products.
However, popularity aside, this isn’t to say that most corporations understand fully the potential challenge they face in adopting the technology.
The report notes:
“Companies may have underestimated the scale of the blockchain challenge. For issues such as interoperability, the proportion of survey respondents expressing concerns progressively increased as companies proceed towards full deployment, while concerns also rose sharply regarding client refusal to embrace blockchain.”
As such, the report’s research author Windsor Holden pointed out that, as potentially beneficial as it appears to be, blockchain might not be the most optimal choice for many companies.
“In many cases, systemic change, rather than technological, might be a better and cheaper solution than blockchain, which could potentially cause significant internal and external disruption,” he concluded.
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