Enterprises are jumping on board!

People can be very skeptical at times. Skepticism rears its head especially when we fail to grasp the full understanding of a concept, or feel threatened the said concept would change the way things happen around them. The world has been skeptical towards Blockchain so far. It is expected because the concept seems quite difficult to understand, and it is literally disrupting the internet and computing in general.

Enterprises, on the other hand, have a duty to survive. Times change, people change, trends change, but a really successful enterprise tries as much as possible to remain relevant in its niche. Innovation and disruption are the orders of the day. There is no place, therefore, for skepticism. Great decisions, backed by loads of data and rational thinking, help to facilitate this continuous relevance.

The blockchain has something of value to everyone. For the old companies in the tech space, it is creating a large pool of new opportunities (Oracle, Microsoft and IBM can attest to this). For the start-ups, sourcing for funds has become easier through ICOs, although regulation may be required to protect investors and the projects involved.

Last year, Oracle announced the formation of Oracle Blockchain Cloud Service, which helps customers extend existing applications like enterprise-resource management systems. A month earlier, rival SAP SE said clients in industries like manufacturing and supply chain were testing its cloud service. And on Nov. 20, Microsoft expanded its partnership with consortium R3 to make it easier for financial institutions to deploy blockchains in its Azure cloud.

IBM was one of the first companies to see through the noise to see Blockchain’s promise. Now it has contributed code into an open-source project and encourages start-ups to try out the technology for free. IBM announced that it has over 400 blockchain clients making use of their open-source Blockchain technology, HyperLedger Fabric. This means one thing: Large enterprises are embracing the technology already!

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