Oracle Executive Predicts a Minimum of Half of Companies Will Use Blockchain Within Three Years

A panel of blockchain executives at the CIO Summit in Half Moon Bay, California took the opportunity to discuss the growth of blockchain. During a panel discussion, Frank Xiong of Oracle Group shared his projection, stating “My projection is that between 50% and 60% of companies will use blockchain in the next few years.”

Oracle seems to be doing well when it comes to blockchain technology. The company has its own blockchain platform and according to Forbes, over 100 customers use the platform to track items for purchases. However, the platform also shares that

“We’re past the stage that blockchain can cure everything, so people are becoming more realistic about what’s good for their business model.”

The panel also shared that a pain point assessment is best used by companies to determine whether they should adopt blockchain technology as well. According to Ted Kim of Samsung SDS,

“At the end of the day blockchain makes multipart collaboration more efficient, whether it’s having a consortium to track data on counterfeit getting into supply chains, or how much inventory you need to create a better forecast.”

He also shared that within three years, he expects that 20$ of companies will be using blockchain because

“there is a tangible ROI in the blockchain.”

Daniel Jones of Bext360 shared,

“People are predicting that the blockchain will allow people to be decentralized, that everyone will have distributed trusted networks. I don’t think that’s possible – I think what we’re going to see is companies vertically integrating, the Amazons of the world are going to continue to vertically integrate into the farm level.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide