Oracle VP’s Prediction: Half of All Companies Will Adopt Blockchain Tech in 3 Years

By Shannon Wilson | April 12, 2019
Oracle VP’s Prediction: Half of All Companies Will Adopt Blockchain Tech in 3 Years

Frank Xiong, Oracle‘s Group Vice President of blockchain product development, supposed that blockchain technology would probably be adopted by at least 50% of companies within the next 3 years.

Speaking at the Forbes CIO Summit in Half Moon Bay, California on Monday, April 8, he predicted: “My projection is that between 50% and 60% of companies will use blockchain in the next few years”.

Frank is also convinced that people are becoming more practical about to what extent blockchain can impact multiple businesses: “We’re past the stage that blockchain can cure everything, so people are becoming more realistic about what’s good for their business model.”

Previously this year, Oracle established a partnership with SDK.finance to employ its blockchain platform into the fintech firm’s payments processes in order to enhance quality and remove intermediaries.

Later, Oracle reportedly announced its key global customers that have successfully incorporated blockchain applications using Oracle Blockchain Platform. “We have genuine clients in live production, around 10 to a dozen are in a live situation,” said Frank Xiong.

Recently, in the Bank for International Settlements last January report, World Economic Forum noted that at least 40 banks across the world are researching the blockchain technology for issuing financial inclusion, payments efficiency, and cybersecurity, reported by The Crypto Sight on April 7.

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