This is the key takeaway from a study of 3,000 executives, conducted by IBM’s Institute for Business Value, which looked at the enterprise potential of blockchain, a distributed global ledger or database that facilitates and tracks “smart contracts” between people, systems and organizations. Blockchain has no single owner or centralized hub, and it has potential to enable direct and secure management of engagements with customers and partners over the Internet, without the need for third parties or intermediaries.

Overall, the survey finds, 33% of executives are already “actively engaged” or are “considering” using blockchain. A handful, 8%, are among those already working with the technology approach. Among members of the 33% using or considering blockchain, 100% expect it to support their enterprise strategy in some way. The vast majority, 78%, are investing in blockchain in hopes of responding to disruptions in their markets — financial shifts or developing new business model. Close to two-thirds see it as a way to increase the transparency of their transactions.

Source: Enterprises Have Extremely High Hopes For Blockchain Technology, Joe McKendrick, May 22, 2017