Report: Blockchain is Going Global by 2025
According to Capgemini, only 3% of corporate entities are effectively utilizing blockchain, with 97% stuck in the development stage. However, a recent report sees blockchain joining global supply chains, and is expected to lead consumer products, retail, and manufacturing by 2019.
Around 60% of top organizations admitted that blockchain is renovating their collaborations, according to the report, which focuses on the transparency of supply chains and trust.
The main reasons for investing in blockchain is the heightened traceability, affordability and transparency in addition to the safe, transparent and quick information delivery and multi-usability in different fields like tracking production to food-chain monitoring.
Nevertheless, the question mark surrounding blockchain is about securing a stable ROI and cross-operability between supply chain partners, because there’s still not yet a clear way to measure it. That’s why an ecosystem built on transparency and trust is needed for blockchain to reach its full potential, as stated by Sudhir Pai, Capgemni’s CTO for Financial Services.
Even though the blockchain is packed with marketplace benefits, it’s not a magic potion for supply chain challenges.
Capgemini’s survey monitored up to four hundred and fifty firms for underway implementation, at scale or pilot; the research was done on a diverse scale of industries ranging from retail to consumer products focusing on the hardships faced by blockchain’s scaling and implementation.