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Will the Blockchain technology make its way to the enterprises

The blockchain technology has had quite the ride thanks to cryptocurrencies. But as the euphoria around crypto-money fades will blockchain follow suit?

It was long said and expected that it’s the blockchain technology which is going to be the big winner in the cryptocurrency craze. After all the virtual coins exist thanks to the blockchain technology, right? And of course, you can use a blockchain for a lot more than digital money.

So, long were the lists of forecasts and estimates about what will corporations do with their implementations of the blockchain. And in 2018 the cryptocurrencies disappointed with their lowering prices. So, what happened to the blockchain projects?

Well, it’s still around. But it’s not following the Bitcoin route in gaining as much attention as possible. Instead, it’s staying mostly away from the spotlight. This creates an impression that it’s fading, but the developments are ongoing.

Currently there are enterprises using blockchains to streamline their supply chains, to build decentralized apps and strengthen their data security. Automotive groups are also exploring possible uses of blockchains as a way to identify and verify various parts they use in manufacturing.

No chain in the blocks

Despite all of those various projects, blockchain as a concept still struggles to gain big traction in enterprises. One of the reasons is the lack of knowledge. For many people, including high-up the corporate mountains, blockchain equals bitcoin. Or at the very least it’s basically a technology used for cryptocurrencies. Courses like this one, could help bring better awareness about this technology.

Another issues is that the blockchain technology often seems too complex and/or expensive to implement. But it’s actually not that different than any other new platform you would introduce to your infrastructure. And in some cases it’s actually easy ti implement and mix together with IoT and even cloud services. There are now cloud providers which indeed offer blockchain features as part of their services. So, it won’t be long until your organization can start using a blockchain with just a few clicks.

Of course, there’s no reason to use a blockchain just to say so. You first need to evaluate the possible uses for the technology in your organization. One idea is security. There are a lot of possibilities in using blockchain in improving your security. Or at the very least employing some similar practices. In this course you can find out more how to do so.

As a whole, yes, blockchain will make its way to the enterprises. It’s already doing so. Maybe it’s not happening as fast as some blockchain fans want, but it’s getting there.

According to Deloitte’s 2018 Global Blockchain Survey, 54% of suppliers and 51% of customers are expecting the organizations they do business with to take a leadership position on blockchain and IoT. This means a lot of people are waiting on these solutions. Of course, most prefer someone else to do the difficult first steps and when the technology is more mature, they will gladly follow suit. But it also means it’s a great opportunity to become a trendsetter.  So, it’s definitely worth exploring.