todays

  • A massive 90% of all blockchain platforms in businesses will have to be replaced before 2021, according to Gartner. The analyst company said blockchain platforms will have to be replaced to ensure they are competitive, secure and don’t become obsolete. Adrian Lee, senior research director at Gartner, said many CIOs created “unrealistic expectations” when assessing offerings from blockchain platform providers and service providers because they overestimated the capabilities and short-term benefits. “Blockchain platforms are emerging platforms and, at this point, nearly indistinguishable in some cases from core blockchain technology,” added Lee. Ethereum, Hyperledger Fabric, IBM Blockchain, Multichain, Ripple, and R3 Corda are some of the blockchain platforms available commercially today. Lee said IT buyers in enterprises are being confused by the fragmented blockchain platform offerings which often overlap or are being used in a complementary fashion. “Compounding this challenge is the fact that blockchain platform vendors typically use messaging that does not link to a target buyer’s use cases and business benefits. For example, ‘transactions’ was the term mentioned the most in relation to blockchain, followed by ‘secure’ and ‘security’,” he said. “While these may be functions of blockchain-enabling technology, buyers are still confused as to how these functions are achieved or what benefits blockchain adds compared to their existing processes.” Interest in blockchain will continue to increase and the fragmented market is likely to continue for at least another five years, due to a lack of consensus and standards, before a single dominant blockchain platform might begin to emerge. Garter predicts that by 2025, the business value added by blockchain will be more than $176bn, but this will then surge to exceed $3.1tn by 2030, when more consensus and platform domination emerges. “Product managers should prepare for rapid evolution, early obsolescence, a shifting competitive landscape, future consolidation of offerings...
  • A massive 90% of all blockchain platforms in businesses will have to be replaced before 2021, according to Gartner. The analyst company said blockchain platforms will have to be replaced to ensure they are competitive, secure and don’t become obsolete. Adrian Lee, senior research director at Gartner, said many CIOs created “unrealistic expectations” when assessing offerings from blockchain platform providers and service providers because they overestimated the capabilities and short-term benefits. “Blockchain platforms are emerging platforms and, at this point, nearly indistinguishable in some cases from core blockchain technology,” added Lee. Ethereum, Hyperledger Fabric, IBM Blockchain, Multichain, Ripple, and R3 Corda are some of the blockchain platforms available commercially today. Lee said IT buyers in enterprises are being confused by the fragmented blockchain platform offerings which often overlap or are being used in a complementary fashion. “Compounding this challenge is the fact that blockchain platform vendors typically use messaging that does not link to a target buyer’s use cases and business benefits. For example, ‘transactions’ was the term mentioned the most in relation to blockchain, followed by ‘secure’ and ‘security’,” he said. “While these may be functions of blockchain-enabling technology, buyers are still confused as to how these functions are achieved or what benefits blockchain adds compared to their existing processes.” Interest in blockchain will continue to increase and the fragmented market is likely to continue for at least another five years, due to a lack of consensus and standards, before a single dominant blockchain platform might begin to emerge. Garter predicts that by 2025, the business value added by blockchain will be more than $176bn, but this will then surge to exceed $3.1tn by 2030, when more consensus and platform domination emerges. “Product managers should prepare for rapid evolution, early obsolescence, a shifting competitive landscape, future consolidation of offerings...