/>
X

Research: Blockchain must overcome hurdles before becoming a mainstream technology

A recent TechRepublic Premium poll shows that while 87% of respondents think blockchain will positively impact their industry, only 10% actively use it.
m-wachsmanheadshot.jpg
Written by Melanie Wachsman, Editor on

We like blockchain. At least, that's the takeaway from a recent TechRepublic Premium survey where the majority of respondents (87%) stated that blockchain will have a 'positive' effect on their industry, and 27% indicated a 'very positive' effect. 

However, thinking something and actually doing it are two different actions. Despite the enthusiasm for the technology, only 10% of those respondents actively use blockchain at their company. Blockchain appears on 13% of the strategic roadmaps for respondents' organizations, compared to 7% in 2018.

SEE: IT leader's guide to the blockchain (TechRepublic Premium)

Which industries will blockchain most likely impact? IT and technology was chosen by 58% of respondents, with professional services -- including finance, insurance, legal, and consulting -- a close second at 56%. Rounding out the top five cited industries were logistics & transport (45%), healthcare (41%), and retail & wholesale (37%).

What needs to happen for the widespread adoption of blockchain? Two-thirds of respondents (66%) indicated the need for a clearly-stated business use case. A cryptocurrency operated by a government entity was suggested by 35% of respondents, while a company-controlled cryptocurrency was favored by 20%.

The infographic below contains selected details from the research. To read more findings, plus analysis, download the report: Blockchain in business: Where are we now, and predictions for the next decade (TechRepublic Premium).

blockchaininbusiness-infographic-final.jpg

Also see

Blockchain cryptocurrency metaphor
Image: Getty Images/iStockphoto

Related

How to clear the cache on your iPhone (and why you should)
Scrolling through iPhone

How to clear the cache on your iPhone (and why you should)

iPhone
The company that's covering for AT&T's failures (Verizon's and T-Mobile's too)
Woman on cellphone.

The company that's covering for AT&T's failures (Verizon's and T-Mobile's too)

Mobile Carriers
A tiny botnet launched the largest DDoS attack on record
getty-close-up-of-hacker-hands-using-a-laptop.jpg

A tiny botnet launched the largest DDoS attack on record

Security