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.
Written by Melanie Wachsman, Editor

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).


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Image: Getty Images/iStockphoto
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