Blockchain will be ‘ubiquitous’ by 2025 – Capgemini Research Institute
The Capgemini Research Institute (CRI) issued an all-new report this morning claiming blockchain will be almost certainly ubiquitous by 2025, underpinning supply chains worldwide.
It claims 3% of organizations are deploying blockchain “at scale” while 10% have a pilot in place “with 87% of respondents reporting to be in the early stages of experimentation” with blockchain.
UK and France are the pacesetters “at scale”
The UK (22%) and France (17%) are in the lead with “at scale” and pilot implementation of blockchain in Europe while the USA (18%) is a front-runner in funding blockchain initiatives.
The study found that cost saving (89%), enhanced traceability (81%) and enhanced transparency (79%) are the top three drivers behind investment.
CRI claims the majority (92%) of so-called ‘pacesetters’ say return on investment is the greatest challenge to adoption; 80% cite interoperability with legacy systems as a major operational issue.
Make the argument for change clear
Sudhir Pai, Chief Technology Officer for Financial Services at Capgemini warns that the case for blockchain’s ROI has not yet been quantified for many organisations and business models will need significant fettling for adoption.
“Effective partnerships are needed across the supply chain to build an ecosystem-based blockchain strategy, integrated with broader technology deployments, to ensure that it can realize its potential.”
Some organizations are attempting to drive wider adoption now while the technology is in its early stage says Capgemini.
“One example is the Mobility Open Blockchain Initiative (MOBI), a consortium comprised of a group of auto and tech companies focused on getting carmakers to assign digital identities to vehicles so that cars and systems can transact with each other.”
The report is available here.