A recent investigation published by Juniper Research, which is largely regarded as the leading analyst house in both digital finance and fintech, has recently announced IBM as the clear market leader and possessor of the strongest credentials in the blockchain sector.
Ranked above Microsoft, who achieved second place, and Accenture at third, IBM was designated the blockchain market leader after Juniper analyzed the results of their Blockchain Enterprise Survey. The survey, which assessed more than 400 company founders among enterprises that are either currently investing in or in the process of investing in or deploying blockchain technology, found that more than 40% of respondents ranked IBM first.
According to the Juniper study, the results reflect IBM’s largely publicized high-profile R&D efforts in partnership with a range of initiatives, including various blockchain clients spread across an extremely diverse portfolio of key verticals. Some of the standout research and development efforts performed by IBM are in the rapidly growing asset tracking, banking, and music industries.
Initial Blockchain Tests Catalyze Ongoing Investment
From the 400-strong list of respondents to the survey that were prepared to elaborate on their level of investment in blockchain technology, more than 67% stated that their investment level already exceeded $100,000 by the end of the 2016 fiscal year.
More than 91% of respondents that had already invested in Blockchain technology stated that they would be investing the same amount, if not more, in 2017, indicating that initial forays into blockchain technology yields a compelling ROI that encourages companies to pursue more intensive investigations.
Bitcoin Is Ill-Suited To Commercial Deployment
One of the most interesting developments to emerge from the report is that companies tend to focus more heavily on private blockchains for commercial deployment instead of using publicly accessible chains such as Bitcoin.
The report published by Juniper argues that many of the applications for which blockchain technology is used by corporations requires strict access control, as well as a large amount of influence on the development of the blockchain technology used in their systems.