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Vitalik Buterin

Blockchain Implementation At The Corporate Level Turned Out More Difficult Than Expected

Integration of solutions based on distributed ledger technology (DLT) into the existing infrastructure of companies has proved to be more difficult in practice than it was expected.
During the study, more than 200 executives and top managers that modernize their companies, implementing various blockchain solutions were interviewed.
Based on the answers received, analysts concluded that there is a number of similar problems faced by companies, including issues of scaling, security, confidentiality of transactions and their payment component.
Thus, discussing scaling, 42% of respondents called it a big problem. 39% of respondents, on the contrary, do not consider it a big problem. For 19% it is not a problem at all. At the same time, only 7% of companies that focus on working with distributed ledger consider scaling a major problem.
In general, regarding the problems faced by companies, Richard Johnson, the author of the study, believes that they can be caused by change from the test environment to practice.
The study also notes that the process of integration of DLT solutions is slowed down due to too low transaction speed. Despite this, 2% of respondents said that their systems could handle up to 15,000 transactions per second.
Although 2% may seem quite small, this is, according to Richard Johnson, a good sign in terms of the technology potential and its future adoption.
Earlier this week, analysts at Qiwi Blockchain Technologies (QBT) said that by the end of 2018, the value of the Russian corporate blockchain solution development market would be 1.5 billion rubles. In 2019, this figure, according to their forecasts, will increase by 2.7 times to 4 billion rubles.