As with any emerging technology, the biggest problem is knowing whether or not it will provide a benefit to your organization. This uncertainty leaves a lot of businesses in a bit of a pickle: lose money not implementing a new solution or lose money because it wasn’t a good fit for your organization.
Damned if they do, damned if they don’t. The latest in a long line of examples is blockchain technology. Blockchain offers a wide variety of practical business applications.
However, many business owners are waiting to commit to implementing it in their operations fully. The biggest concern is there is no reference to how it could potentially benefit their business.
It’s hard not to see the reasoning behind that. It might take some time before business owners decide to adopt blockchain into their organizations.
The 2018 CIO Survey by Gartner seems to back this reasoning up. In the survey, only 1% of CIOs have implemented blockchain technology into the operations of their business. 8% say they have any plans to adopt it in the future. Skepticism about blockchain is widespread. 77% of CIOs say they have no plans to investigate a blockchain strategy.
Looking behind the numbers of those who have implemented blockchain give a clue of the difficulties that could arise. 13% said that their IT department had to change, 14% indicated that the culture within their IT department had to evolve. Blockchain technology is still new, and because of this, 18% of CIOs said it was hard to find staff with the right skills.
On the provider side, many service providers have begun offering Blockchain-as-a-Service (BaaS). As with many services, BaaS provides many businesses the ability to take advantage of blockchain technology without the needed investment in infrastructure and staff.
BaaS could sway a good portion of the 77% of CIOs who had no interest in blockchain. The more blockchain is used, the better the technology will become.
What do you think? Is this a more feasible option for your business? Would you be okay with sacrificing blockchain’s benefit of circumventing the middleman in able to leverage the others?
To learn more about this and other network management solutions, call IT Support Guys today at 855-4IT-GUYS (855-448-4897).