Second Blockchain Report REALSEC IDC
According to IDC, 1 in 4 Spanish companies of more than 50 employees already use Blockchain
- Blockchain’s penetration into the Spanish business fabric reaches 11%, increased by one percentage point in only one year
- 45% of Spanish companies surveyed by IDC Research España for their new report with Realsec consider Blockchain’s medium-high impact on their business
- 46% of large companies are in favour of Blockchain plus to cryptographic Hardware and specific Software to increase security
Madrid, April 2021. Blockchain began to be a real digital necessity in 2021 as confirmed by Western Europe’s recent CAGR investment figures reaching 47% for a market that will reach 4 billion euros by 2024, according to data from IDC Research España. In its latest report “State of the Art of Blockchain in the Spanish company, 2nd Edition” in collaboration with Realsec, they stress that the penetration of this technology into the Spanish business fabric already adds up to 11%, having increased one percentage point in only one year.
According to Ignacio Cobisa, senior analyst at IDC Research España and responsible for fieldwork on a universe of companies with more than 50 workers from all sectors: “Investments in technologies with less focus on cost optimization or business continuity are suffering some postponement by the pandemic. However, Blockchain’s growth curve remains very relevant, especially in the development of services associated with this technology, with a CAGR of 52.6% until 2024”.
There are multiple benefits that Blockchain technology brings to businesses, including agility, simplicity and above all greater security, both in digital identity management and in transactions. The importance of security is especially relevant in sectors such as finance and retail.
Thus, 45% of the Spanish business fabric considers a medium-high impact of Blockchain on its business, that is, it helps their organization integrate with other suppliers to improve the efficiency of its processes or to achieve safer operations and processes.
As far as the factors that are inhibiting the use of Blockchain, the organizations themselves stress the lack of knowledge by not finding relevant use cases or not having sufficient information.
The report on Blockchain status in the Spanish company of IDC Research España and Realsec also reveals that its use is no longer limited to the financial field, which is experiencing growth of more than 40% despite COVID-19 but it is making decisive progress in sectors such as distribution, services and industry.
The variety and number of current or potential use cases has increased compared to the latest study conducted by IDC Research España last year and increasingly affect more business areas or departments. In this sense, the companies surveyed highlight commercial transactions and digital identity validation by 38% and 39%, respectively.
On the other hand, guarantee management, assets logistic, financial auditing, transport and supply chain, contracts registration and business relationships, personal data processing or regulatory compliance are also of enormous importance.
Jesús Rodríguez, CEO of Realsec, comments: “The new economy imposes adopting new business models based on digital innovation. In this context, in 2020, Blockchain has begun to be perceived as an efficient technology that contributes to reducing costs and risks and as one of the main technological strategies that want to incorporate a large number of companies.”
And he adds: “While Blockchain is a fairly secure technology in its design, the incorporation into regulated markets and environments, such as the financial sector (Banking and Fintechs) and Government or Defense, needs to incorporate changes that improve cryptography layers to make them more robust and resistant to today’s cyberattacks and those that will come as a result of quantum computing.”
Blockchain and IoT
The IDC and Realsec study predicts that by 2025 17% of logistics organizations will partner with a service company to integrate Blockchain into IoT platforms to record data exchanged in M2M communications.
Modern supply chains are becoming more global and complex, and smart barcode scanner technologies, RFID systems, and GPS tracking or telematics, help keep supply chains connected and efficient. “These technologies play a crucial role in driving smarter operations and improving processes, whether the inventory management, tracking asset status, tracking goods and shipments, or tracking equipment status,” Cobisa explains.
46% of large companies are in favour of Blockchain coupled with cryptographic Hardware and specific Software to increase security
Finally, in terms of Blockchain security in processes, 29% of respondents believe that together with cryptographic Hardware and specific Software it would increase. This percentage goes to 46% in companies with more than 1000 employees. 54% of respondents believe that security is conferred precisely by the operation of the blockchain itself.
About IDC Research España
Currently, IDC Research España is the group’s premium analytics and consulting firm, being a benchmark in our country’s technology market for the high experience of its analysts and its growing presence in the process of digital transformation of companies from all economic sectors. IDC Research Esapaña is a subsidiary of International Data Corporation (IDC), the world’s leading provider of market intelligence, consulting services and events for the information technology, telecommunications and consumer technology markets.
REALSEC is a European technology company, with an international presence, specialized in the development of Cybersecurity solutions based on certified Hardware Security Module, for encryption, digital signature, PKI, time stamping systems and highest securization for Blockchain & IoT environments, for the Financial sectors (Banking, Fintech and Methods of Payment), as well as for Government, Defense and Industrial sector.
For more information, please contact:
IDC Research España IMEDIA Comunicación
Phone: 917872162/ 600 490 337 Phone: 91 344 14 72 / 690 841 109
Ana Belén Sánchez email@example.com
Phone: 91 449 03 30/ 606 83 84 36
In addition, you can know more information about this report in the next REALSEC’s CEO Interview