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Gartner Predicts Most of the Current Enterprise Level Blockchain Would Need Replacement By 2021

Gartner, one of the leading research and advisory company says that most of the current enterprise level blockchain implementation would need to be replaced by 2021. The firm says that the technology is quite new and would see more refinement in the coming years, thus working on the same blockchain model would make the systems more obsolete.

Adrian Lee, senior research director at Gartner explains why the current enterprise level blockchain models would see a total revamp in 18 months time. He said,

“Blockchain platforms are emerging platforms and, at this point, nearly indistinguishable in some cases from core blockchain technology. Many CIOs overestimate the capabilities and short-term benefits of blockchain as a technology to help them achieve their business goals, thus creating unrealistic expectations when assessing offerings from blockchain platform vendors and service providers.”

What’s Wrong With Current Enterprise Blockchain Models?

Gartner explains that the real problem for the current enterprise focused blockchain implementation is that it constitutes of different fragments of system and services which come together to overlap with each other or work in a complementary fashion. Thus, Gartner suggests that it becomes increasingly difficult for businesses to select the right implementation model for their respective businesses.

Lee went on to explain various problems associated with the current form of blockchain implementation. He said,

“Compounding this challenge is the fact that blockchain platform vendors typically use messaging that does not link to a target buyer’s use cases and business benefits. For example, ‘transactions’ was the term mentioned the most in relation to blockchain, followed by ‘secure’ and ‘security.’ While these may be functions of blockchain-enabling technology, buyers are still confused as to how these functions are achieved or what benefits blockchain adds compared to their existing processes.”

Gartner also points out that more enterprise is looking to adopt the blockchain tech as the popularity of the technology has gone through the charts. The firm also points out that not even a single enterprise blockchain project can withstand the test of time for even 5 years.