BASINGSTOKE, England--(BUSINESS WIRE)--A new study from Juniper Research has found that IBM is clearly regarded as having the strongest credentials in the blockchain sector, well ahead of competitors.
Blockchain Technology Leaders
Almost 400 company founders, executives, managers and IT leaders responded to Juniper’s Blockchain Enterprise Survey. Amongst enterprises either actively considering, or in the process of deploying blockchain technology, more than 4 in 10 (43%) ranked IBM first - more than twice the proportion selecting second-placed Microsoft (20%).
According to the study, this reflected IBM’s high-profile R&D engagement with initiatives such as Hyperledger and its extensive list of blockchain clients across an array of key verticals and use cases, including banking, asset tracking and the music industry.
Read more in Juniper’s complimentary whitepaper, ‘Which Industries are the Best Fit for Blockchain?’
Initial Blockchain Tests Spur Further Investment
Amongst respondents who were prepared to state their levels of investment in blockchain, more than two-thirds (67%) stated they had already invested more than $100,000 by the end of 2016, while 91% of these companies confirmed that they would be spending at least this amount in 2017. The study stated that this suggested most initial investments had delivered results that were sufficiently encouraging for companies to pursue more extensive trials and/or integrations.
Bitcoin Blockchain – Ill-Suited for Most Commercial Deployments
However, the accompanying report urged companies to focus on private blockchains for commercial deployments, rather than utilise public chains such as Bitcoin. It argued that most corporate applications would require the capability to restrict access to permissioned users, while companies would also need to have a degree of control over the development of the blockchain on which their systems have become dependent.
According to research author Dr Windsor Holden, “Even if companies conduct initial testing using a public blockchain, in most cases the shortcomings of these chains should disqualify them from many use cases, including financial settlement, public sector deployments, logistics and land registry.”
Juniper Research is acknowledged as the leading analyst house in the digital commerce and fintech sector, delivering pioneering research into payments, banking and financial services for more than a decade.