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BizReport : Advertising archives : February 19, 2019

Study: Orgs interested in blockchain, unsure how to use

While interest in blockchain integrations - tech that is supposed to help defeat digital fraud - continues to rise, one new report indicates that organizations don't feel prepared to use blockchain or implement its strategies.

by Kristina Knight

New data out from Globant indicates high interest and high unpreparedness for blockchain technology. Their 2019 Blockchain Technology Business Guide indicates that while about two-thirds (64%) of businesses in their survey consider blockchain a current option fewer than half (46%) believe their organization is ready to actually implement the strategies associated.

In fact, only about one-quarter (28%) of those surveyed have chosen a blockchain provider, and about half (42%) say they are still in the discovery phase of blockchain adoption.

"Blockchain brings a whole new level of accessibility and trust to an organization's digital information," said Alvaro Gareppe, technical director at Globant. "While before companies struggled to find information buried in inefficient digital systems, blockchain technologies decentralize information in a way that allows for much faster sharing of company assets. Similarly, blockchain can help build trust both internally and externally."

Other interesting findings from the Globant report include:

▪ 90% of those surveyed say they "waste time each day" tracking down or sharing data
▪ 24% report wasting an average of 60 minutes per day
▪ 71% believe blockchain adoption can increase customer confidence in businesses data protection

"Blockchain implementation is different for every organization, so it's imperative for business leaders to have a unified idea of what their integration will look like," said Diego Tartara, CTO Latin America at Globant. "The technology as such usually requires a shift in paradigm to adopt it, thus sharing core objectives for the technology is key for a successful blockchain integration. "

Additional Globant findings can be accessed here.

Tags: advertising, advertising fraud, blockchain, fraud prevention ecommerce, Globant, mobile marketing

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