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Gartner: How to navigate the blockchain revolution

You can’t afford to ignore this powerful technology – warn Gartner in a report designed to help IT leaders prepare for the next phase of blockchain

Janet Brice
|Oct 20|magazine6 min read

 Blockchain technology will support the global movement of $2 trillion of goods and services by 2023, predicts Gartner in their new report.

“You can’t afford to ignore this powerful technology,” warn Gartner who provide an insight into how digital businesses can apply this technology in the paper: Blockchain Technology: What’s Ahead? 

Years after bitcoin introduced the world to blockchain, the technology continues to change all sectors of industry from financial services to government and healthcare in ways quite distinct from its original crypto-driven applications.

Following an initial hype surrounding blockchain applications, and the prolonged blockchain “winter” Gartner sends a warning shot to companies that “this is no time to rest on our laurels”.

“IT leaders must prepare for the inevitable blockchain tech “spring” on the horizon, bringing with it core-enabling technologies and significant opportunities for digital business, commented Gartner who has helped the Australian Stock Exchange and City of Austin on how blockchain adoption can transform the way they create value.  

“Whether streamlining multiparty processes, creating and trading new assets, or leveraging artificial intelligence and the Internet of Things, blockchain enables entirely new business opportunities,”

Gartner reports that although blockchain can be confusing it is going to impact the business of most IT leaders in the next five years. 

Gartner has prepared a free three-step guide to help IT leaders understand blockchain technology:

  1. What Is your blockchain strategy?

Gartner explains the disruptive potential of blockchain and how companies can remain competitive by creating a strategy that tests and deploys blockchain for business.

  1. Understand the Blockchain Technology Spectrum

Blockchain technologies offer capabilities from improvements to radical alterations to business models. Gartner advises IT leaders on this along with research into technologies to help them make the right investments at the right time.

  1. Four types of blockchain initiatives

A focus on how to extract business value from blockchain. Gartner helps CIOs to evaluate four types of blockchain business initiatives and identify those that align most closely with their objectives in a free download.

Also, on offer to IT leaders is a podcast; How Organisations Are Utilising Blockchain Today, from Avivah Litan, Gartner Distinguished VP Analyst, who provides insights and examples of how clients are utilising the technology. 

A series of webinars, virtual conferences, articles and research papers offer further help and advice to business leaders seeking to embrace blockchain technology. 

For more information on business topics in the United States and Canada, please take a look at the latest edition of Business Chief North America.

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