Yesterday at Consensus Distributed, Martha Bennett, VP and Principal Analyst at Forrester gave her view of the 2020 state of enterprise blockchain or distributed ledger technology (DLT), referring to blockchain as a revolutionary technology.
Following the hype that peaked in 2018, this year there are mainly projects that can deliver real benefits. “One of the overall impacts of COVID-19 is the almost instant digitization. And that in itself is likely to lead to an acceleration in certain blockchain projects,” said Bennett. Those projects that are advanced are unlikely to be stopped.
However, because of new constraints on resources, speculative projects will be dropped and further proofs of concept are unnecessary because we know the technology works. At the next level of progression, pilot projects need to have a clear path to production. While research and development have not come to a halt, in the current climate, projects have to have a clear benefit and must map to corporate goals such as ESG.
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