Of the nearly $9M spent last year on projects by respondents, 82% came from organizations with less than 99 employees. 70% of that investment poured in from privately owned companies.
This is a typical pattern for new technologies. Smaller companies often possess a stronger appetite for risk—seeking competitive differentiators more aggressively to win or establish new markets. Larger companies wait until concrete patterns emerge that save time, money or attract new . Then with deeper pockets and larger resource pools, large enterprises catch up.
This pattern is likely to exist for a couple years before the balance normalizes. For the next five years, small company budgets will continue to outpace the larger enterprises.
At the end of the day, is a technology, so it makes sense that IT directs the majority of its today. If the decision is clearly cut from either business or technology teams, it is 40% more likely that IT initiates the project. In fact, it appears that IT is central to projects getting started. 75% of the time, technology teams are either initiating or partnering with the business as the driving force behind .
Business teams still participate in over half of the decisions to use , but the gap in participation underscores that business executives struggle to identify (and justify) business use cases for .
Or maybe they do envision what their markets look like after decentralization, and they are resisting the change. That is a dangerous view, though. Remember, it only took Netflix three years to drive Blockbuster to bankruptcy by embracing Web 2.0. Decentralization is at the core of the underway today, and——even Netflix isn’t safe.
Regardless, decentralization is still a very technical discussion, and technology companies and partners would better serve future projects by providing technology teams with the tools to be their champions.
4. It’s a polychain world.
Not surprisingly, leads the market for enterprise . 62% base their projects on , the protocol designed for developers — allowing them to put business logic on chain using smart contracts. A respectable 42% use the network.
However, the really impressive number is 78% of the respondents reported supporting projects for two or more chains. Certainly, many of these projects involve accepting .
However, it is logical that while technologists work out best practices, and software providers craft turn-key solutions, many chains will root themselves in niches and prosper. Similar to how companies already rely on several relational databases to power facets of their business, we should expect to see chains to follow a similar pattern.
About the State of the Enterprise Blockchain Study
The study sampled the current state of for 82 organizations ranging in size from startups to juggernauts. The median size company employs 250 people, while the mean employs closer to 30,000. The study started began in December 2018 and concludes with .
, and sponsored the State of the Enterprise Study. Special thanks to and for their help in completing this study.
Published at Sat, 23 Mar 2019 06:50:48 +0000
