By
Godfrey Benjamin
April 18th, 2024
Everest Group released a report in which it assessed 12 blockchain platforms in terms of their capabilities, ecosystems, and adoption levels.
Management consulting and research firm Everest Group has released a new market report focusing on the future of blockchain. The report, entitled “BigTech Battle: Assessing Managed Blockchain Platform Readiness for Enterprise Use,” addresses a number of major players developing blockchain projects, including Hewlett Packard, IBM, and Microsoft.
The report cites Jelurida’s Ardor blockchain-as-a-service platform, alongside Multichain’s Enterprise, as two technologies with favorable ease of adoption and strategy. Ardor utilizes unique parent-child chain architecture, whereby parent chains secure a network and interoperable child chains entail features such as asset exchange, voting, and a decentralized marketplace.
MultiChain Enterprise, meanwhile, includes various high-end features relating to scalability, confidentiality, and compliance. The appearance of the two new blockchains alongside behemoths such as Amazon Web Services and IBM is notable, and credit is due to Everest for not focusing solely on industry titans.
Amazon and IBM are Big on Blockchain
Those titans are betting big on blockchain. IBM recently announced a new app, Thank My Farmer, that uses blockchain to help consumers trace the coffee they buy along the supply chain. Starbucks has also started utilizing Microsoft’s Azure blockchain to give customers a similar panoramic view of its supply chain, while Alibaba Group’s fintech arm is expected to soon launch blockchain-as-a-service, backed by Alibaba Cloud.
Such moves feed into the general narrative, with forecasts suggesting that global blockchain tech revenues will surge in the coming decade. Indeed, the market is predicted to exceed $23.3 billion in size by 2023.
Noting that distributed ledger technology has “moved beyond the hype phase,” the report considers the capabilities, enterprise readiness and potential impact of a dozen entities that are gearing up for a big 2020. As well as those cited above, the analysis covers service providers Alibaba Cloud, Jelurida, Amazon Web Services, BurstIQ, MultiChain, Oracle, SAP, Sovrin, and VMware.
Rated Across a Range of Metrics
Various parameters were considered to determine each managed platform’s preparedness for enterprise use, including interoperability, digital asset management systems, oracle services, and storage capacity.
The report’s publication comes at a good time, with multiple enterprises seeking to tap into blockchain by utilizing deployment-ready solutions that are easy to implement, maintain and manage.
Relying upon its sizeable proprietary database, as well as public disclosures and interactions with blockchain system integrators to reach its findings, Enterprise Group divided a dozen companies into Leaders, Niche Providers, Visionaries and Nascent Providers. While it will come as no surprise to learn that the likes of Amazon Web Services and IBM made the grade as Leaders, Visionaries included Jelurida and MultiChain.
Of course, it is the duty of the companies cited in Everest Group’s report – as well as others in the space – to simplify the process by which organizations can deploy or join blockchain networks in their own industry. This new report will go some way towards clarifying their ability to do so, encompassing insights about established tech heavyweights and new players in the market.