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Blockchain is part of digital transformation strategy for 61% of enterprises

okta blockchain digital transformation

Digital identity company Okta commissioned a report which found that blockchain is part of the plan for 61% of enterprises with formal digital transformation strategies. The survey canvased more than a thousand enterprises, each with revenue of over $1 billion.

To avoid overstating the figure, only 24% of the companies surveyed have a formal digital transformation strategy, and the 61% only applies to this group. Another 58% of companies are either beginning to formalize plans or are considering a digital transformation strategy.

The respondents were IT, security and engineering decision makers representing a diverse set of industries with a slight bias towards the technology and financial services sectors.

Other technologies that ranked higher than blockchain were Internet of Things (68%) and Artificial Intelligence (72%).

Many new identity solutions incorporate blockchain in some form. And given Okra’s focus on identity, a large part of the survey explored the move towards a mixed workforce with an increasing proportion of contractors.

The knock on effect of this is the concept of “Zero Trust”. Because a larger slice of the team is remote or contractors, Okta says that “modern businesses should no longer have a “trusted” internal network and an “untrusted” external network.” Instead, users need to be able to have secure access regardless of location, network or device.

The survey found that 60% of companies are already working on Zero Trust strategies.

Below are other recent blockchain surveys:
Accenture: blockchain for aerospace
Boston Consulting Group: blockchain for transport and logistics
Cap Gemini blockchain survey
Deloitte blockchain survey
EY blockchain (finance and tech professionals) survey
KPMG technology industry innovation survey
PwC blockchain survey
PwC China blockchain survey
World Energy Council / PwC blockchain survey
SAP blockchain survey
TD Bank payments industry survey
BNY Mellon payments survey
Friss insurance survey
Juniper enterprise blockchain survey
BIS Central Bank Digital Currency survey
IBM / OMFIF Central Bank Digital Currency survey
ING general population cryptocurrency attitudes

Image Copyright: Okta