Whoa, Not So Fast There
Gartner says not to be discouraged by early blockchain setbacks.
Despite initial optimism about their roll-out, fully 80 percent of supply chain blockchain initiatives will remain at a proof-of-concept or pilot stage through 2022, Gartner Inc. predicts.
This is partly because early blockchain pilots had used models used in other sectors. But supply chain requires a different approach.
“Modern supply chains are very complex and require digital connectivity and agility across participants,” said Andrew Stevens, senior director analyst with the Gartner Supply Chain practice. “Many organizations believed that blockchain could help navigate this complexity and pushed to create robust use cases for the supply chain. However, most of these use cases were inspired by pilots from the banking and insurance sector and didn’t work well in a supply chain environment.”
Gartner noted that “this setback should not discourage supply chain leaders from experimenting with blockchain. Blockchain use cases simply require a different approach for supply chain than for other sectors.”