1. Market Research
  2. > Advanced IT Market Trends
Blockchain Decentralized Storage: A Nascent Market with the Potential to Offer Cheap, Fast, and Secure Services

Blockchain Decentralized Storage: A Nascent Market with the Potential to Offer Cheap, Fast, and Secure Services

  • June 2020
  • 18 pages
  • ID: 5909189
  • Format: PDF
  • IDC

Summary

Table of Contents

This IDC Perspective discusses blockchain opportunities. While best known as the platform through which Bitcoin and other popular cryptocurrencies are created, blockchain is fast being adopted by leading enterprises. Fortune 500 financial services firms and fintechs are rolling out blockchain proof of concepts for use in cross-border financial transactions. JP Morgan Chase, for example, launched its JPM Coin network, which enables the cross-border transfer of cash-backed cryptocurrency between JP Morgan and its partners.Blockchain has found increasing adoption as an immutable network for supply chains. Leading produce suppliers, global shipping companies, and commodities suppliers have adopted it for its ability to create an immutable audit trail. For example, last year, Walmart required its produce suppliers to join its Food Trust blockchain network. The blockchain DLT enables end-to-end traceability of vegetables back to the farm where they were grown.For the same reasons, blockchain-based decentralized networks are being rolled out by financial services, retail, and manufacturing industries stalwarts; start-ups are pitching the technology for distributed storage. The immutability of blockchain makes it an auditable ledger resilient to fraud and natively capable of storing sensitive records, as well as business invoices, such as manufacturing and supply chain invoices. It has the ability to automatically track provenance and payment for goods received. Distributed ledger technology based on blockchain is also suited to storing legal contracts, recording AI data and video surveillance footage, and recording contract policy changes.Even as proof of concepts abound among Fortune 500 enterprises, trusting public blockchain with sensitive business records will take building trust over years as the technology continues to evolve and experience adoption among various industries.Blockchain-enabled decentralized storage offers considerable pricing, performance, and security advantages over traditional cloud services; it should be on a short list of technologies that SMBs and enterprises should consider for limited, small-scale pilots that could meet specific business use cases.The key question to ask when considering blockchain is what advantages does it offer over traditional cloud services? Those advantages should be balanced against the fact that the technology is still nascent and evolving."Blockchain-enabled decentralized storage holds the promises of significant advantages that include price, performance, and security over traditional cloud services, but most of the storage services being offered by start-ups are still being proved out and will require years of proving before enterprises will be comfortable trusting them for backing up sensitive business data." -- Lucas Mearian, research manager, Infrastructure Systems, Platforms and Technologies Group at IDC

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on