The blockchain has become something of a buzzword over the past year or so, but that doesn’t mean it isn’t a viable solution for many businesses. In fact, one expert believes the made-famous-by-Bitcoin technology will be used by upwards of 60 percent of companies.
This projection comes from Oracle’s group vice president of blockchain product development, Frank Xiong, who told Forbes CIO Summit that he predicts “between 50% and 60% of companies will use blockchain in the next few years.”
Xiong knows what he’s talking about, too, since Oracle has more than 100 customers using its blockchain platform for the purpose of tracking items.
That said, the company vice president is also realistic in his assessment of the technology when he notes that it really isn’t the be-all-end-all solution for business. “We’re past the stage that blockchain can cure everything,” he told the American business magazine, “so people are becoming more realistic about what’s good for their business model.”