Organizations arent adopting blockchain? Study reveals why [Video]

Blockchain adoption has gradually increased over the years. However, at the enterprise level, this adoption has been sluggish, and according to a new report, it’s due to the technology over-promising and under-delivering.

In their paper, four researchers from the University of Surrey and Cardiff University delved into enterprise blockchain adoption and some of the main hurdles preventing the technology’s explosion in organizations. The four identified 880 factors and 29 themes of blockchain adoption at the institutional level.

Citing previous surveys, they found that only 2% of digital leaders worldwide have adopted blockchain on a large scale, while 8% reported small-scale adoption. Cloud computing, big data, and artificial intelligence (AI), in contrast, reported 92%, 62%, and 36% large-scale adoption globally.

“While blockchain has been touted as a revolutionary technology, our research suggests that its adoption is hampered by over-promised benefits, under-delivered business value, and the complex interdependence between adoption drivers and barriers,” …