Blockchain will be fully scalable 2023, predicts Gartner

By Staff Writer

Blockchain, may still seem like to be in the early days when it comes to enterprise adoption, it will be fully scalable by 2023, according to a report by global technology consultancy Gartner.

It has chosen blockchain as one of the Top 10 Strategic Technology Trends for 2020,  alongside hyper-automation, AI security, distributed cloud and human augmentation.

“However, blockchain remains immature for enterprise deployments due to a range of technical issues including poor scalability and interoperability,” she said.

The report predicted that blockchain, which is already appearing in experimental and small-scope projects, will be fully scalable by 2023.

The report further pointed out that the enterprise blockchains today follow a permissioned model in which members who have access to the blockchain see the same information on a shared ledger.

In the future, true blockchain or “blockchain complete,”  the report predicts, could potentially revolutionize industries and the economy as it operates in tandem with other technologies such as AI and IoT.

“This expands the type of participants to include machines, which will be able to exchange a variety of assets — from money to real estate,” the note, concluded. “For example, a car would be able to negotiate insurance prices directly with the insurance company based on data gathered by its sensors. ”

 

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