Oracle Blockchain Vice President: 50% to 60% of companies will use blockchain in the next few years

In the past year, the blockchain has become a buzzword, but that doesn't mean it is not a viable solution for many companies. According to foreign media reports recently, Frank Xiong, vice president of Oracle blockchain product development, said at the Forbes Chief Information Officer Summit that 60% of companies will use the underlying technology of Bitcoin.

Blockchain-3438501_960_720 (Source: Pixabay )

In the next few years, 50% to 60% of companies will use blockchain.

Xiong is familiar with industry trends as more than 100 customers are using Oracle blockchain platforms to track items. At the same time, Xiong is very realistic when evaluating blockchain technology. He pointed out that the blockchain is not a comprehensive solution for enterprises. He explained to Forbes:

Now the stage of the blockchain can solve all problems. People become more realistic when thinking about what the blockchain does for their business model.

Blockchain is not for everyone

Ted Kim, vice president of blockchain at Samsung SDS, South Korea's largest global IT solutions provider, also said that this emerging technology is not for everyone. He told Forbes:

Ultimately, blockchain will increase the efficiency of multi-sector collaboration, whether it costs money to track supply chain forged data behavior, or how much inventory is needed to make predictions better. Blockchain has a clear return on investment.

Kim's decision for the future of the blockchain is more conservative than Xiong. He expects that 20% of companies will use blockchain technology within three years.

keep status quo

Basically, the decentralized blockchain technology can only be selected by the centralization company, thus forgetting the promise of freedom. Daniel Jones, CEO of Bext360, said:

It is predicted that the blockchain will allow everyone to have a decentralized trusted network. However, I do not agree. Because we will see the company's vertical integration, Amazon will continue to vertically integrate into the farm sector.