Barriers in Blockchain Technology Adoption Worldwide | Infographic

The concerns and controversies surrounding blockchain implementations in organizations worldwide, whether large or small, have been prevalent for quite some time now. The edge that blockchain technologies provide in terms of cost efficiencies and improved productivity across business verticals and functions is undeniable.

However, many CTOs and other corporate executives are still on tenterhooks for broad scale deployment. Why is that? The Central Blockchain Council of America (CBCA), in its latest research, reveals insights on several challenges that are hindering widespread adoption of blockchain technology in enterprises. Key among them are ambiguity with respect to government regulations across the world, the lack of key international standards in implementation and interoperable transactions processing, and its inability to scale rapidly. Differences in network capability development also play a key role in slowing down global adoption, witnessed by 29% of organizations, especially among the SMB segments stating network capability and compatibility as a major hurdle.

So while 84% of organizations surveyed in the blockchain research by the Central Blockchain Council of America (CBCA) are in some stage of enterprise blockchain development and implementation, 28% of them still say that trust among enterprises, governments and users are the major causes that could hinder widespread adoption of the technology. In fact, 7% of companies worldwide who were on the verge of blockchain adoptions, poised to be early movers in the technology, have said that they have paused their blockchain implementation programs as of 2018.Find out all about the hurdles in enterprise blockchain technology adoption worldwide in CBCA’s ‘Barriers In Blockchain Technology Adoption Worldwide’ now!