“CIOs tell Gartner that blockchain is a technology they want to deploy.Sixty percent (according to the 2019 Gartner CIO survey) expect some kind of blockchain deployment within the next three years. But many of them do not see blockchain as a game-changer technology. This is not surprising, given that Gartner
research shows that most enterprise efforts are limited scope blockchain initiatives and preserve current centralized operating models.
Blockchain’s five core elements are:
• Record immutability
• Widescale peer-to-peer (P2P) distribution
• Decentralized and autonomous trust verification and execution
• Tokenization and current enterprise efforts lack decentralization and tokenization
Certain top performers are taking a more expansive view and seeking ways to explore blockchain in combination with other technologies such as IoT and AI. These early entrants are also conscious of how and how much the implementation of smart contracts, tokenization and decentralized self-sovereign identity can shake up existing commercial technology structures. It is therefore Important that CIOs
understand the current state of the market, the three phases of blockchain solution development (Inspired, complete and enhanced), and what each phase menas for them. In the short-term, CIOs need to improve efficiencies using blockchain when they can in areas such as supply chain. Also, CIOs must look beyond it because it can offer the chance to combat and compete against the digital giants, disruptive startups and transactional corporations (TNCs).”
The Hype Cycle
“The Hype Cycle is aimed at CIOs, and innovation and digital business leaders pursuing blockchain initiatives. The Hype Cycle provides an overview of how blockchain capabilities are evolving from a business perspective and maturity across and among different industries. With a huge array of blockchain activity. It is important to focus holistically on industry context as well as the underlying technologies. We recommend that you view this Hype Cycle as a companion to “Hype Cycle for Blockchain Technologies, 2019” Both Hype Cycles frame a global perspective and take a broad industry view. There are significant differences in adoption, maturity, regulation, customer awareness etc. that impact specific geographies and types of enterprise differently. Such nuances can be addressed using the Gartner’s My Hype Cycle Toolkit and/or client enquiry. Also consider the adoption level and business impact of other technologies — especially security, data management, identity, IoT and AI, as well as the risks and regulatory considerations, standards initiatives and underlying commercial interests that will impact wider industry adoption.”
This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from OutSystems.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Hype Cycle for Blockchain Business, 2019, David Furlonger, Rajesh Kandaswamy, 30 July 2019
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