Study: 43% enterprise blockchains deployed in finance

Report of Cambridge University, dedicated to corporate blockchains, showed, that 43% in industrial operation of projects are carried out in financial companies.

Cambridge University published the results of the second comparative Studies of corporate blockchains, in which survey data were collected more 200 enterprises, Startups, central banks and other public sector institutions in 59 countries from July 2018 years to June 2019 of the year.

One of the sections of the survey was dedicated to corporate projects on the blockchain. After analysis 67 the researchers came to the conclusion, what in 43% Cases of blockchains are used in financial projects, eg, For clearing and reconciliation of records.

At the same time, the researchers discovered, that most projects are being developed for a long time. On average, from evidence of the concept to deployment, it takes place about 25 months, And it may take more than four years to build larger networks.

Corporate blockchains are much more centralized, than their open analogues. It means, that instead of thousands of anonymous nodes and miners, ensuring blockchain safety, one or more knots coordinate the contents of new blocks and the existing chain.

Managed blockchains, which provide greater control over networks and a high level of confidentiality, Important in industries, where the data is a commercial secret. However, in this case, there is a fear, that centralization will allow leading organizations to get an unfair advantage and potentially block the access of other participants to aggregated results.

Cambridge researchers discovered, what more 80% Corporate projects used only one blockchain deployment service to launch nodes and mining. 48% Considered projects are based on the IBM Hyperledger Fabric blockchain., but 15% - At the foundations of Corda from R3.

According to the report, Market leaders have developed more 70% corporate projects on the blockchain in the hope, that other companies will join them in their industry. The industry consortiums were deployed 22% corporate blockchains, And a little more 5% were created by state institutions. Work under the auspices of market leaders allows some corporate networks to develop at a faster pace, However, they may experience difficulties with attracting competitors to their platform.

In addition to the financial sphere, blockchain is often used to track supply chains. Recently, the Austrian manufacturer Gina Stin said, that I intend to use NFC and ICON blockchain technology to track bottles and transparency of the supply chain. Besides, In August, the US Department of Agriculture reported, what will monitor the supply of organic products using blockchain.

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