Gartner Survey: Only One Percent Of CIOs Have Adopted Blockchain Technology

Blockchain, News | May 4, 2018 By:

A new survey from research and advisory firm Gartner suggests that blockchian implementation worldwide is still in its nascent stage.

According to Gartner’s 2018 CIO Survey, only one percent of chief information officers (CIO) indicate there is any kind of blockchain-related projects or systems within their organizations, and only eight percent are eyeing “short-term” implementation. Furthermore, 77 percent of CIOs surveyed said their organization has no interest in the technology and/or no action planned to investigate or develop it.

“Among 293 CIOs of organizations that are in short-term planning or have already invested in blockchain initiatives, 23 percent of CIOs said that blockchain requires the most new skills to implement of any technology area, while 18 percent said that blockchain skills are the most difficult to find,” the report said. “A further 14 percent indicated that blockchain requires the greatest change in the culture of the IT department, and 13 percent believed that the structure of the IT department had to change in order to implement blockchain.”

Gartner vice president David Furlonger said the survey provides factual evidence about the massively hyped state of blockchain adoption and deployment.

“It is critical to understand what blockchain is and what it is capable of today, compared to how it will transform companies, industries and society tomorrow,” said Furlonger. “Rushing into blockchain deployments could lead organizations to significant problems of failed innovation, wasted investment, rash decisions and even rejection of a game-changing technology.”

Furlonger said the challenge for CIOs is not just finding and retaining qualified engineers, but finding enough to accommodate growth in resources as blockchain developments grow. He said qualified engineers may be cautious due to the historically libertarian and maverick nature of the blockchain developer community.

Not every industry is equally as dismissive of blockchain technologies. CIOs from telecom, insurance and financial services indicated being more actively involved in blockchain planning and experimentation than CIOs from other industries.

“While many industries indicate an initial interest in blockchain initiatives, it remains to be seen whether they will accept decentralized, distributed, tokenized networks, or stall as they try to introduce blockchain into legacy value streams and systems,” Furlonger concluded.