Experts: blockchain adoption needs streamlining the current IT systems

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When one speaks about the possible adoption of blockchain at the enterprises the most important questions often arises about the apparent will to do or not to do it at the business. The experts argue that there is an issue not only about the will but rather of capabilities of current IT infrastructure to adopt technology of distributed ledger. This thesis was the main one raised during ScotChain18 conference in Edinburgh. Jeremy Drain, a representative of cryptocurrencies-focused software company Libra reportedly told the audience that “there’s an assumption by some companies that their current infrastructure will accept crypto and blockchain” but this assumption may don’t hold a water. Drain argues that many existing IT systems are not compatible with opportunities arisen when one installs blockchain.

Drain was backed from CEO of smart contracts provider Monax, Casey Kuhlman, who reportedly said that “this is an immature software and the value proposition is not clear due to the different tech involved in each cryptocurrency solution.” Michael Young, CEO of HR-company MBN Solutions, added that “Without exception, the success stories seem to have one characteristic in common: they needed the right infrastructure in place to ensure the rapid, seamless, and secure transmission and processing of data on the blockchain. Whilst this is not an issue for many startup ventures in the blockchain space, this may mean a complete rethink for large corporations looking to keep pace with this foundational technology.”

This point was actively substantiated by the chief of Russia’s largest bank, Sberbank, Herman Gref who noted that blockchain itself is also raw and just evolving technology that will be mature maybe in next of in 2020 year.

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