Yesterday, research firm Gartner said it expects blockchain smart contracts to increase overall data quality by about 50% by 2023. Better data availability will, in turn, improve the decision-making process for organizations. Hence it recommends blockchain for data and analytics (D&A).
“When an organization adopts blockchain smart contracts — whether externally imposed or voluntarily adopted — they benefit from the associated increase in data quality, which will increase by 50% by 2023,” said Lydia Clougherty Jones, senior research director at Gartner.
But there is a caveat here, as consortium governance for blockchains or smart contract rules may reduce the availability of data to companies. Gartner predicts overall data asset availability will decrease by 30% by 2023.
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