Oracle: Half of world’s companies will use blockchain in the next three years

Oracle’s vice president of blockchain product development Frank Xiong said during the Forbes CIO summit in California that 50 to 60 percent of companies will use blockchain technology in the next three years.

Xiong also said that people have started to have a better and more realistic understanding of what blockchain can do.

“We’re past the stage that blockchain can cure everything, so people are becoming more realistic about what’s good for their business model,” he argued.

Oracle has more than 100 customers using its blockchain solution for supply chain, which promises to increase transparency, accelerate product delivery and improve customer satisfaction.

A recent survey conducted by KPMG showed that executives were interested in blockchain, but delayed its adoption in their companies.

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