“Compounding this challenge is the fact that blockchain platform vendors typically use messaging that does not link to a target buyer’s use cases and business benefits. For example, ‘transactions’ was the term mentioned the most in relation to blockchain, followed by ‘secure’ and ‘security.’ While these may be functions of blockchain-enabling technology, buyers are still confused as to how these functions are achieved or what benefits blockchain adds compared to their existing processes,” said Mr. Lee.
Nonetheless, as enterprises’ interest for blockchain technology increases, the number of blockchain platform vendors continues to increase with more new entrants. “Due to the lack of an industry consensus on product concept, feature set, core application requirements and target market, we do not expect there to be a single dominant blockchain platform within the next five years. Instead, we expect a multiplatform world to emerge,” said Mr. Lee.
Gartner clients can learn more in the report “How to Position Blockchain Platforms to Increase Adoption” by Adrian Lee and others. Additional blockchain research can be found in the Gartner Special Report “Blockchain-based Transformation.” This collection of research highlights the scope of blockchain’s transformation, how it impacts various industries, and the current state and evolution of these technologies.
