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IBM beats Microsoft and Accenture to take the lead in implementing Blockchain

IBM’s repertoire of high-profile R&D projects in Blockchain is supposedly responsible for it’s ranking.

According to a new study by market research firm Juniper Research, called the “Blockchain Enterprise Survey,” IBM has surpassed Microsoft and Accenture to take the lead in implementing Blockchain technology in a variety of industries. The study involved as many as 400 company founders, executives, managers and IT leaders.

Research author Windsor Holden stated on Monday that even if an initial testing was conducted via a public Blockchain, the majority of companies conducting them should be disqualified from several use cases like financial settlement, public sector deployments, logistics and land registry, based on the shortcomings of the chains.

IBM was ranked first by more than 43 percent (4 in 10) of enterprises which were in the process of implementing it or were seriously considering doing so, a number that is more than double of those selecting Microsoft (20 per cent), which came in second.

The study stated that this was a result of some of IBM’s major specialised R&D projects which included Hyperledger, and its huge list of Blockchain clients covering use cases like banking, asset tracking and the music industry, besides several other key domains.

More than two-thirds (67 per cent) of the companies surveyed said that they had already made investments of over $100,000 in Blockchain technology in 2016, with 91 per cent of them stating that they’d invest the same amount or more in it in 2017 as well.

The report, however, advised companies to not focus on public chains like Bitcoin, but instead, use private Blockchains for commercial deployments.

Widely known as a revolutionary technological innovation originating from the digital cyptocurrency Bitcoin, Blockchain technology is disrupting several traditional industrial processes like financial transactions and marine insurance, among others. In this, IBM Blockchain helps transform countless industry business practices, including banking, government, healthcare, and logistics by providing key support for them.

Photograph: Creative Commons/Vinoo202 

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