Mapping out enterprise blockchain

Enterprise blockchain appears to be here to stay. Organizations like the Enterprise Ethereum Alliance, a consortium of businesses working on blockchain solutions, have well over 500 members pushing for the development and adoption of enterprise blockchain solutions. Similarly, Hyperledger has over 270 members pushing for the development and adoption of “cross-industry blockchain technologies." Legacy corporations are also taking notice. IBM, the struggling tech giant, has been attempting to position itself in the forefront of the enterprise blockchain ecosystem — employing 1,500 employees to work on over 500 blockchain projects that stretch across multiple industries like finance, healthcare, and shipping. Mastercard and Bank of America frequently top the list for the blockchain patent filings.

Despite the apparent slowdown of adoption for enterprise blockchain solutions, with Forrester Research estimating that 90% of blockchain experiments will never be a part of a company’s operations, many startups and corporations continue to develop new blockchain solutions and launch pilot programs using blockchain technologies. These companies continue to push enterprise blockchain adoption forward in the hope that they grab a piece of the estimated $3.1 trillion blockchain market.