Altcoin News: Oracle Vice President: “Between 50% and 60% of Companies Will Use Blockchain in the Next 3 Years.”

April 10, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Frank Xiong, vice president of development of blockchain products for Oracle, expressed the opinion that in three years more than half of all global companies will use blockchains.

During the Forbes CIO summit, Xiong said that over the next 3 years, from 50% to 60% of companies will turn to distributed registry technology. In this case, the top manager stressed that the blockchain is not able to solve all the problems. In his opinion, using the blockchain is impossible to build a solution that covers all aspects of the business.

“We’re past the stage that blockchain can cure everything,” said Xiong.

The colleague was also supported by Samsung’s vice president of blockchain Ted Kim. He also noted that although the technology is excellent and fast-growing, the blockchain is still not suitable for everyone.

“ At the end of the day blockchain makes multipart collaboration more efficient, whether it’s having a consortium to track data on counterfeit getting into supply chains, or how much inventory you need to create a better forecast. There is tangible ROI in the blockchain,” Kim told Forbes.

Recall that in August last year, Oracle launched its own cloud service, created using the blockchain technology, which currently has more than 100 corporate clients. At the same time, the company remains one of the world leaders in the number of vacancies related to the blockchain.

Author: Marko Vidrih