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TECH BUYER Mar 2019 - IDC TechBrief - Doc # US44827319

IDC TechBrief: Blockchain, Storage, and the Infrastructure Layer

By: Chris KanthanResearch Manager, Infrastructure Systems, Platforms and Technologies Group, James WesterResearch Director, Worldwide Blockchain Strategies

Abstract

This IDC TechBrief discusses the current state of blockchain technology and how it will impact technology vendors and buyers in terms of the infrastructure required to establish blockchain solutions. Although blockchain is still in its earliest stages, the potential for many use cases such as supply chain and financial services is massive. These will lead to significant investment in infrastructure products such as storage and cloud.

"While blockchain is often associated with Bitcoin and cryptocurrency, it's a foundational and transformative technology that has wide application in numerous industries. Blockchain and distributed ledger technology offer unique ways for enterprises to cut costs, increase revenue, and collaborate with each other. The convergence of blockchain with artificial intelligence (AI) and Internet of Things (IoT) also holds exciting possibilities," said Chris Kanthan, research manager at IDC.

"Much has been written already about the exciting potential of blockchain, but how that potential will be realized, and what that will mean for the infrastructure that will support it, is not as well understood by the enterprises that will benefit from blockchain," said James Wester, research director at IDC.


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