Is 2019 the year of enterprise blockchain?

Blockchain’s fundamental nature of transparency and immutability has enabled cryptocurrencies to thrive. Despite the 2018 rollercoaster in the cryptocurrency market, blockchain technology has generally gained traction since its inception ten years ago by Satoshi Nakamoto. Last year registered approximately 95% of companies across various industries investing in different blockchain tech initiatives.

Sky Guo, CEO of Cypherium, a startup firm that offers enterprise-ready blockchain solutions notes that enterprises are no longer questioning the viability of blockchain. He further adds that enterprises are actively researching new innovative methods of incorporating blockchain technology into their legacy systems. This can be witnessed through Goldman Sachs. The company, a prior sceptic of the blockchain tech, launched a crypto-investing product for their clients in late 2018.

Research by Kintaro Capital reveals that a decentralized future is enormous with a minimum of $3.1 trillion of Global GDP passing through blockchain by 2030. Enterprises seek a competitive edge with the utilization of blockchain solutions to ease scalability, transparency, and transaction speeds. This is evidenced earlier this year by significant firms, either investing in blockchain projects or signing partnerships with blockchain startups. These include Wall Street Blockchain union with R3, Nasdaq’s investment in Symbiont, Nasdaq’s investment in Symbiont, and ING Bank and R3.


Progressing into 2019, we could see a further global enterprise based blockchain-level decentralized ledger technologies (DLTs) due to:

An improved understanding of enterprise blockchain
According to a Deloitte survey, a majority of US respondents foresee blockchain technology as a promising venture that could elevate many businesses as compared to 18% of the overall respondents who view blockchain to be solely “a database for money” with no other applications outside the financial industry.

Easy accessibility of Ready-to-use software from top vendors
Enterprise Corda- will be the latest blockchain platform to be revealed later this year by the international blockchain firm R3. This will add to the already available enterprise-based DLT’s of IBM, Amazon, and Oracle. 

Better interoperability
Previously, the growth of enterprise blockchains has been hindered by the unavailability of connectivity mechanisms between various types of blockchain solutions. Ripple which released an Interledger recently solved this. The Interledger is a protocol that connects different kinds of ledgers (both distributed and traditional centralized) with the main focus on improving interoperability between financial institutions.

With enterprise competition growing fierce by the day, firms are finding it necessary to become innovative to remain afloat in the marketplace. Will enterprise blockchain be fully embraced soon? Let’s wait and see.