All aboard the blockchain train. Just proceed with caution—it’s not yet as safe and secure as it needs to be.
No, we’re not talking cryptocurrency here. This isn’t about Bitcoin, Ethereum or any of the other 1,500 or so versions of digital currency. This is about enterprise blockchain—using the distributed ledger technology for just about anything involving transactions, storing records and tracking the flow of goods and information. Which are, of course, among the major things any business does.
And which is probably why most enterprises are indeed getting aboard the train. According to Deloitte’s 2018 global blockchain survey, 95% of companies across multiple industries planned to invest in blockchain during 2019—39% said $5 million or more and another 26% said at least $1 million. IDC estimates that investment in enterprise blockchain platforms in 2019 will be nearly $3 billion.
The government is taking notice as well. The federal Department of Energy (DoE) is putting a $200,000 grant into a trial of the technology to see if it can help protect the national power grid.