Gartner: 80% of blockchain supply chain projects will not exit the pilot phase until 2022

Researchers at consulting firm Gartner are convinced that 80% of blockchain-related supply chain initiatives are up to2022 will remain at the stage of proving the feasibility of the concept.

One of the main reasons for such a slow developmentsegment is that the first such pilot projects used technology models that have successfully proven themselves in the banking sector and insurance. However, the supply chain industry requires a slightly different approach.

“Modern supply chains are very complex and require digital connectivity and flexibility,” said Gartner researcher Andrew Stevens.

Digital technology is ubiquitous infinancial sector, but the supply chain sector often relies on events and data received from objects of the physical world, including packaging and transportation processes. It is important to understand well how these events and processes can be digitized for their joint use by stakeholders in the blockchain ecosystem.

According to Stevens, the need for changeThe approach should not stop companies from experimenting with distributed ledger technology. Many projects have not progressed beyond the pilot stage. However, experiments with technology enabled companies to draw important conclusions and gain a deeper understanding of the possibilities of using blockchain in supply chains.

“By implementing pilot projects, companies have revealed what exactly needs to be changed in their organization for the subsequent effective use of blockchain technology”- Stevens added.

One of Gartner’s studies says that blockchain technology is at the stage of “getting rid of illusions” and therefore interest in technology is weakening.

Recall that last year, Chinese blockchain startups raised $ 3.5 billion, which is about 50% less than in 2018.