To serve its clients, Gartner conducted a survey on the applications of blockchain technology across various industries. The findings of survey were recently published revealing few important points. In fact, as per the data blockchain can have a “transformational impact across industries in next five to ten years”.

In short, what we in the blockchain community have been saying for years has now been said by Gartner too.

The report was based on Gartner 2019 CIO Agenda Survey conducted at Gartner IT Symposium/Xpo 2019. Here are the major findings from the survey:

60% of Chief Information Officers (CIOs) think that there will be some level of blockchain adoption in their companies in the next 3 years.

Banking industry continues to be the industry most interested in blockchain. About 33% of CIOs responding to the Gartner survey said that they may adopt blockchain technology within two years.

continues to be the industry most interested in blockchain. About 33% of CIOs responding to the Gartner survey said that they may adopt blockchain technology within two years. Online gaming industry is also highly involved in blockchain. Blockchain tokens have given players more control over their assets in the gaming platforms, including transfer of assets from one platform to another.

is also highly involved in blockchain. Blockchain tokens have given players more control over their assets in the gaming platforms, including transfer of assets from one platform to another. High user volumes also make gaming industry a good testing ground for the adaptability and scalability of blockchains, the report said.

Retail industry is also using blockchain for tracking of goods, prevention of counterfeit goods, inventory management and auditing. If combined with other technologies like IoT and AI, blockchain has the potential to change retail business models forever, Gartner said.

It was on the basis of these findings that Gartner realized the transformational impact of blockchain that may be coming in 5-10 years. However, it added that companies must complete their blockchain ecosystems with tokenization and decentralization to extract real business value from the technology.