IBM enjoys the most trust from Corporate America when it comes to enterprise blockchain solutions, and it's not even close when comparing the rest of the pack. That's according to Sept. 2018 survey by Juniper Research which found that 65% of respondents would choose IBM Blockchain to deploy distributed ledger technology (DLT) and similar solutions.
Runner-up Microsoft garnered just 7% of the votes. Other companies on the list include Accenture, Deloitte and Oracle. Juniper reached out to businesses with more than 10,000 employees in "Blockchain Enterprise Survey: Deployments, Benefits & Attitudes." The paper "provides unique insights into the scale of current and planned blockchain deployments, the key benefits that companies hope to achieve through integration, and the scale of investment in the technology."
U.S. Businesses Prefer Ethereum Network
The same survey found that companies overwhelmingly prefer the Ethereum (CRYPTO: ETH) network if they were to deploy decentralized app (Dapp) and related solutions, with the platform earning nearly 50% of the votes. Fifteen percent (15%) of blockchain projects being considered are payment-based solutions.
It's no secret that Fortune 500 companies are brainstorming ways to use cryptocurrencies, blockchain and artificial intelligence in order to gain a competitive advantage and improve shareholder returns. Earlier this year, Starbucks, Microsoft and Boston Consulting Group backed a financial company that is looking to get SEC approval
for a Bitcoin exchange traded fund (ETF) long considered an important milestone in the crypto industry.
Since last year, Amazon and Walmart have been exploring ways to use decentralized systems to more efficiently deliver goods directly to customers' homes. Amazon AWS's early-stage blockchain solutions are seen to be on a collision course with Microsoft Azure and Google Cloud. This year, Google rolled out free analytics tool
that explore Bitcoin (CRYPTO: BTC) and Ethereum blockchains.
What's obvious is that there's much brainpower from Corporate America devoted to the potential application of these innovations.
However, Big Blue enjoys enormous resource advantage with multi-billion dollar budgets and an army of over 330,000 employees. IBM began developing its blockchain initiatives more than three years ago as cryptocurrencies blossomed in valuation.
Jerry Cuomo leads IBM Blockchain as vice president and the division has more than 1,500 blockchain experts on board. The accumulation of talent reflects Corporate America's confidence in IBM Blockchain.
The New York-based company has announced several high-profile projects over the past few months that enable it to attract other big customers. IBM's fast and secure Hyperledger Fabric is a blockchain solution that can handle enterprise-scale commerce at millions of transactions per second.
Earlier this year, IBM cut a deal with shipping giant Maersk to create a blockchain-based supply chain. The system tracks shipped goods in near real-time and 94 companies have joined the effort.
This month, World Economic Forum and consulting firm Bain & Co. published a whitepaper detailing how distributed ledger technology (DLT) can drastically improve global supply chains. The authors of "Trade Tech – A New Age for Trade and Supply Chain Finance" point to red tape and excessive documentation as stifling international trade, especially in emerging regions like Asia and Africa. A test shipment of flowers from Kenya to a port in Netherlands resulted in a stack of nearly 200 communications documents.
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