The State of Enterprise Blockchain Adoption, 2023, the report was informed by research of 603 global business leaders in the US, UK and China, fielded in December 2022
NEW YORK, Jan. 12, 2023 (GLOBE NEWSWIRE) — Casper Labsthe software leader for enterprise blockchain, launched today The State of Enterprise Blockchain Adoption, 2023 report. Based on a survey of 603 global business decision makers spread evenly across the US, UK and China, the report reveals that despite challenging economic headwinds, businesses plan to adopt blockchain technology at an increasing rate in 2023. It also reveals the most prominent adoption challenges, namely a knowledge gaps in blockchain that persist across business leaders and developers.
“2023 is going to be a pivotal year for blockchain technology,” said Mrinal Manohar, CEO and co-founder of Casper Labs. “Despite volatile digital asset markets, some of the world’s largest institutions recognize an unprecedented, long-term opportunity to transform their business with blockchain – and they are actively implementing those visions today.”
Report takeaways include:
The knowledge gap about blockchain persists across both business leaders and developers.
- More than half (54%) of respondents still see “blockchain” and “crypto” as interchangeable terms – even though the former is just a single application of the latter.
- The vast majority (98%) of respondents expressed that they would be more likely to adopt blockchain if they learned more about the technology and understood how their peers were using it.
- There is a steep learning curve for developers during or after blockchain implementation; it is the most common challenge to adoption (25%) followed by lack of viable tools (24%), interoperability issues (20%) and anti-blockchain cynicism (18%).
Nevertheless, there is great interest in adopting blockchain.
- Almost 90% of businesses in the US, UK and China are starting to use blockchain in some capacity.
- 87% are likely to invest in a blockchain solution in the next 12 months. This is especially true in China, where more than half are “very likely” to make an investment.
- 81% expect technology budgets to increase in 2023, even amid an expected slowdown.
“Enterprise adoption is often the main driver for bringing new technology into the mainstream, and blockchain is no different,” said Medha Parlikar, CTO and co-founder of Casper Labs. “Perhaps the most important takeaway from this report is that businesses, governments and Wall Street recognize that blockchain is not here to tear down and replace their current technology stack, but to help them operate more efficiently within their existing infrastructure. This report supports up on what we’ve seen firsthand: people are interested and willing to invest in blockchain – they just need the right knowledge and tools to make it happen.”
The release of this report comes a week before Casper Labs hosts its second annual program Blockchain Hub in Davos, Switzerland, an event that brings together business leaders, academics and policy makers to discuss the state of the blockchain industry and its impact on the world around us.
For more data and insight, download the report at https://CasperLabs.io.
About Casper Labs
Casper Labs is a leader in enterprise blockchain software. Casper Labs built the first layer-1 blockchain for business scale and operational needs, creating complete transparency for all business transactions. Casper Labs delivers applications and services that drive revenue and radical efficiency for companies and governments. We are on a mission to build the essential foundation for a whole new era of customer value and business success. For more information, visit https://CasperLabs.io.
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