I know that most of you have probably heard initial coin offerings and cryptocurrencies. But what about enterprise blockchain?
ICOs have made a significant impact — both in a positive sense and in a negative one — across several industries thanks to blockchain. The positive impact comes in the form of raising awareness about blockchain technology, and the negative side of things stems from the misguided conflation of blockchain and cryptocurrency.
Do you know that Gartner has predicted that “Blockchain’s business value-add will grow to slightly over $360 billion by 2026, then surge to more than $3.1 trillion by 2030”?
In a sense, we as technologists are betting on the future, and based on my experience in the blockchain industry, there is a need for a product or software to help businesses to get ready for a better future by increasing revenue on their investments and reducing cost to deploy smart contracts.
We are almost to 2019, and what’s the story now?
According to Accenture research, 2015 was the year of blockchain exploration and investment, which led to early adopters embracing the technology in 2016 and 2017.
Accenture’s prediction is that from 2018 to 2024, there will be significant growth, as we will see more validated information from lessons learned and new use cases, better software, service providers and accurate clarity on all the hype of cryptocurrency. Maturity in regard to blockchain adoption will kick in by 2025.
Note: The author of this article is Neeraj Sabharwal.