Blockdata research: 81 of 100 large public companies use blockchain – Bits Media

According to research by analytical firm Blockdata, 81 of 100 large companies are using blockchain technology or are exploring its capabilities.

Blockdata analysts conducted
survey among 100 large world companies, to find out, do they use blockchain in their workers processes. Among them, 81 companies showed interest in blockchain and distributed ledger technology (DLT). From this amount 65 companies are actively developing blockchain-based solutions.

According to Blockdata, 16% companies are exploring the possibilities of this latest technology, how it can improve their performance. These Companies Are Developing a Proof of Concept (Proof-of-Concepts), are looking for partners, but do not carry out real developments for the main business. 14% companies have already begun preliminary testing of blockchain-based solutions.

24% of the surveyed companies are at the stage of developing a finished product or have already conducted several successful tests. In 27% survey participants already have a ready-made product or service based on blockchain, which employees use, partners and clients of these companies.  Only 19% companies, who studied the potential of blockchain, stopped research and did not launch innovative solutions.

It turned out, that companies mainly prefer corporate solutions with access control capabilities. Hyperledger Fabric is the most preferred blockchain among surveyed companies, it is used 26% respondents. Ethereum blockchain is used 18% organizations, accounts for Quorum 11% and on Corda — 8%.

Blockdata also identified the main use cases for blockchain among the companies surveyed. Primarily, they provide their software to other companies based on the BaaS concept (blockchain-as-a-service – blockchain as a service), allowing them to create their own solutions. Company, those who took part in the survey, blockchain is also used for transparent tracking of supply chains and product quality control.

Besides, they use it for faster clearing and settlement without extra costs. Traditional players began to realize, that blockchain can improve their business processes. Otherwise, firms may begin to lag behind their competitors., ready to implement innovative solutions, Blockdata analysts concluded.

According to a recent Blockdata study, 55 of 100 The world's largest banks invest in companies, working with blockchain and cryptocurrencies.