Since the childhood days of blockchain technology, there have been studies and forecasts on its performance and applicability. A recent study by the Capgemini Research Institute predicts that the technology will establish itself as the basis of supply chains by 2025 at the latest.
Blockchain usage will reach many new industries
New reports on the use of the blockchain by banks and logistics companies suggest that the experts at the Capgemini Research Institute are correct in their assessment. By 2025, the blockchain should be used in all possible areas and also have arrived at the proverbial mass. Particularly for supply chains, distributed ledger technology is to be used effectively in retail, by manufacturers of consumer goods and in numerous other industries through further investment and cooperation between blockchain companies and other companies. So far, the largest investments have been made in the USA and the United Kingdom, as the study reveals under the confusing name “Does blockchain hold the key to a new age of supply chain transparency and trust?
Germany so far rather reluctant to invest
87 percent of all survey participants still see themselves in the blockchain context at the very beginning, only one tenth of the surveyed companies have, according to their own statements, already launched their own pilot projects. The current leading role in blockchain implementation in new projects with Bitcoin and other systems is with 22 percent Great Britain and France with 17 percent of all companies surveyed there. The USA occupies second place with 18 percent, in this country eleven percent of the companies are already blockchain-based. Investments in the USA in the past six years amounted to more than one billion US dollars. For comparison: in Germany it was about 50 USD, in Great Britain about half a billion USD. Companies that already actively use the blockchain see for the most part a change in their cooperation with partners (60%), 89% of the survey participants hope for lower costs.
Not only positive expectations for the blockchain in companies
79% of the participants expect better transparency by switching to the blockchain, which should also enable them to carry out faster and more secure transactions in the supply chain as well as in production. Recently, for example, various reports have been made indicating the use of the Ethereum system in different areas. The respondents are more critical of the return on investment – 92% see ROI as the biggest sticking point. 82% are also concerned that the transaction security of the blockchain could lead to acceptance problems on the part of their partners. Another study conducted by the Capgemini Research Institute in cooperation with the Australian Swinburne University of Technology study concludes that the blockchain will reach its highest level in 2020.