Cambridge Alternative Finance Centre publishes 2nd Global Enterprise Blockchain Benchmarking Study
Cambridge Alternative Finance Centre | Sep 19, 2019
The second edition of the Global Enterprise Blockchain Benchmarking Study provides new insights into the current state of the enterprise blockchain ecosystem. The study gathers survey data from 160 start-ups, established companies, central banks, and other public-sector institutions from 49 different countries worldwide. The empirical analysis specifically focuses on enterprise blockchain networks that have entered in production.
Some Highlights from the report
- The banking, financial markets and insurance industries are responsible for the largest share of live networks:
The trend indicated in 2017 has continued: 43 per cent of enterprise blockchain networks deployed in production can be attributed to Financial Services, far ahead of any other sector and industry. The specific use case of a network can be at times difficult to identify, but supply chain tracking, trading infrastructure, and document certification seem to currently dominate. Companies and institutions from nearly every sector and industry of the global economy have been exploring the potential of blockchain technology in recent years. The Accommodation and Food Services as well as the Healthcare and Social Assistance sectors come at a distant second place with 6% of all networks each.
- Cost reduction is the main value proposition of live networks, but increasing revenue generation is expected in a second phase:
72 per cent of live networks are currently primarily used to reduce costs for participants through reduced reconciliation efforts. However, 69 per cent of network participants indicate that the key motivation for joining the project is the potential of generating incremental revenues through the provision of new products and services.
- Unclear terminology and marketing hype have contributed to the "blockchain meme":
Seventy-seven per cent of live enterprise blockchain networks have little in common with multi-party consensus systems apart from incorporating some of the same technology components (e.g. cryptography, peer-to-peer networking) and using similar nomenclature. The "blockchain meme" nevertheless acts as a powerful catalyst to overcome corporate inertia and spur wide-reaching organisational change, both within and across organisational boundaries.
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