Jupiter Research Survey Shows More Than 60% of Large Companies Looking to Deploy Blockchain

A study conducted by Juniper Research revealed that over 65 percent of responding large enterprises are either looking into or have started deploying blockchain technology in their workflows.

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A study conducted by Juniper Research revealed that over 65 percent of responding large enterprises are either looking into or have started deploying blockchain technology in their workflows.

The digital market research and Consultancy Company published their findings in a paper on Blockchain technology. The company added that the interest in blockchain has risen, compared to just 54 percent recorded last year.

More companies actively involved in DLT

The research shows that over 30 percent of the responding companies who are considering blockchain technology has already gone past the concept stage and are now either in trial stage or are rolling out the service.

The services where Blockchain technology would be used to have diversified over the past twelve months. Last year, 34 percent of the respondents revealed that the technology would be used in payment-related services, but it has now dropped to just 15 percent.

This is an indication that companies have begun to see the application of this technology in numerous sectors of the global economy.

The technology would be helpful in vast areas and would save as much as $100 billion by 2030 in food exports, the report shows.

For companies that have spent more than $100,000 on blockchain technology over the past year, they are looking to spend a similar amount or even more than that over the coming year. This continued investment shows blockchain technology is viable.

Ethereum still the go-to platform for enterprises

Ethereum has performed poorly since the start of the year. As one of the worst performing cryptocurrencies, it has lost over 80% of its value since its all-time high. Still, that hasn’t taken away from its popularity.

The research pointed out that nearly 50 percent of responding firms are planning to make use of the network’s token standardization potential to launch their proprietary dApps on the Ethereum blockchain.

In terms of deployment, IBM was discovered to be the most popular amongst the leading tech companies.

 65 percent of the respondents choose IBM as their preferred destination when it comes to deployment.

Microsoft is the distant second despite gaining 7 percent over the past year. This finding doesn’t come as a surprise due to the heavy investment IBM continues to make into blockchain technology.

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