Gartner sees blockchain as ‘transformational’ across industries – in 5 to 10 years

Research firm Gartner, whose past evaluations of blockchain have been conservative to say the least, expects the distributed ledger technology to transform the ways businesses operate in most industries within five to 10 years.

Right now, however, blockchain for most industries remains mired between inflated industry expectations and general disillusionment with regard to how it can improve business processes, according Gartner’s latest “Hype Cycle” report.

The report includes a survey of CIOs on how they perceive blockchain technology.[ Further reading: Blockchain: The complete guide ]

“Even though they are still uncertain of the impact blockchain will have on their businesses, 60% of CIOs in the Gartner 2019 CIO Agenda Survey said that they expected some level of adoption of blockchain technologies in the next three years,” David Furlonger, a Gartner distinguished research vice president, said in a statement. “However, the existing digital infrastructure of organizations and the lack of clear blockchain governance are limiting CIOs from getting full value with blockchain.”

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