Enterprise Blockchain Adoption – Projects and Consortia

Enterprise Blockchain adoption has been taking place by two parallel routes that have now started to cross paths at several junctures.

• The first route is the one that we call blockchain projects, where one or more organizations conduct a pilot or a proof of concept study on a blockchain use case. In such projects, the organizations might use public or private blockchains depending on the use case at hand. Despite the poor commercialization of such projects, enterprises across the globe, small and big, continue to invest in blockchain projects, trying to solve old problems using this new technology.
• The second route is a more formalized consortium of multiple stakeholders with an objective of testing blockchain technology for one or more use cases and agreed upon governance models for the consortium. Here, special private blockchains called the consortium blockchains are used. Several existing industry consortia have embraced blockchain to address some of their problems collectively. 

To sum this up, enterprise blockchain adoption is taking place at a rapid pace, and will only intensify. Deloitte’s 2020 Global blockchain survey indicates that 86% of organizations see a compelling business case for the use of this technology, as against 74%, a couple of years ago.

However, before investing in this technology either through a standalone project or through a consortium, it is advisable that the enterprises look at what has already happened, and learn from it. ESG Intelligence has an unparalleled, database of enterprise blockchain adoption that can be used to deliver intelligence and facilitate informed decision-making.

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