Table of contents:

• 1. Introduction
• Blockchain Is No Longer a Speculative Technology
• The Blockchain Technology Picture: Competing Standards, and a Long Tail of Specialized Platforms
• Platforms in the Blockchain services space can be categorized along axes of open to permissioned, and flexible to purpose-built
• Blockchain technology can be classified into quadrants
• Quadrant I platforms are for secure, high-performance use cases
• Quadrant II platforms are generally cryptocurrency applications
• Quadrant III platforms are generally consumer noncoin applications
• Quadrant IV platforms are enterprise blockchain breadth plays
• 2. Changing Shape of the Blockchain Market
• The current blockchain market is driven by cost and cycle time reduction, transparency and trust, and transaction audit security
• Blockchain architecture and deployment process will change from a point solution to an ecosystem by 2022
• The next jump (from point solution blockchain to ecosystem blockchain) will demand interoperability and business partnership
• 3. Customer Requirements
• Operating transparency, audit quality control, and cost reduction are among the top drivers for blockchain adoption
• Blockchain is emerging as a component of digital transformation
• Interoperability is a top topic of conversation for vendors and clients
• The most common use cases for blockchain today are cross-border remittances, SCM/provenance, and invoice settlement
• 3.1 Blockchain In-Use Case Studies
• EY Implemented Blockchain to Achieve Daily Settlement in Microsoft’s Digital Content Royalty Payments
• Objectives
• Results
• Atos Designs, Deploys Food Traceability Solution for Bureau Veritas
• Objectives
• Results
• Wipro Constructs Blockchain for Waterborne Commodity Trading
• Objectives
• Results
• Infosys Provides Airline With Blockchain Airworthiness Solution
• Objectives
• Results
• IBM Assisted Maersk in Implementing Blockchain in Support of Shipping
• Objectives
• Results
• Tech Mahindra Designs CBR Blockchain Platform for State Bank of India
• Objectives
• Results
• 3.2 Blockchain Pilots and PoCs
• ATOS Provides BFSI Client with Corporate Bond Issuance Blockchain
• Objectives
• Results
• EY Deploys Tesseract Asset Management for German Auto Sharing
• Objectives
• Results
• Infosys Addresses International Mobile Carrier’s International Roaming Challenges
• Objectives
• Results
• Tech Mahindra Pilots Loan Origination Solution for Indian Bank
• Objectives
• Results
• Wipro Readies GDPR Solution for EU Consumer Goods Firm
• Objectives
• Results
• Virtusa Streamlines Commercial Loan Covenant Management
• Objectives
• Results
• TCS Designs Blockchain Securities Settlement Platform for ABN AMRO
• Objectives
• Results
• Capgemini Builds Policy Bidding Blockchain for Italian Insurance Brokerage
• Objectives
• Results
• Mphasis Re-Imagines Mortgage Origination on Blockchain for Bank Client
• Objectives
• Results
• IBM Manages Own Vendor Invoices on Blockchain Settlement Solution
• Objectives
• Results
• NTT DATA Provides Interbank Reconciliation Solution for ABI
• Objectives
• Results
• 4. Market Size and Growth
• Global blockchain implementation & management market will grow at 94% CAGR to $8.6bn by 2022
• ...with significant growth in U.S., U.K. & Continental Europe, Middle-East, Japan , South Korea
• Banking and insurance lead the global blockchain market, followed by healthcare, manufacturing, energy & utilities, & logistics
• Banking and insurance is the primary demand industry for blockchain deployment, and will remain so – along with healthcare and manufacturing – over our forecast period
• Forecast assumptions: platforms become interoperable and consolidate; quantum computing nets out to a neutral impact
• 5. Vendor Market Shares
• IBM, Infosys, and Wipro lead SI blockchain market in revenues to date
• 6. Vendor Offerings and Targeting
• Blockchain solution delivery in 2018 is typically set up around a CoE with liaisons to the organization’s vertical and horizontal business units.
• Use case definition is changing as vendors identify commonality of applications, with best practices usually ‘stored’ between the CoE and horizontal SBUs.
• Vendors are of three types in blockchain platform architecture: agnostic, monolithic, and bespoke
• AGNOSTIC VENDORS
• MONOLITHIC VENDORS
• BESPOKE VENDORS
• Blockchain will increasingly Transition from PoCs to Production Deployments during 2018
• Ethereum/Quorum Dominate Use Case Infrastructure, But Hyperledger and Corda are Gaining Ground
• Ethereum and Hyperledger Fabric are the market share leaders for platforms in a long-tail market with many competitors.
• By 2022, we forecast a more clearly-defined set of use-specific platforms with the combined Hyperledger family of project architectures leading the way; Hashgraph becomes commercially viable.
• Market Sentiment increasingly favors Fabric, Corda, & Quorum Blockchain Platforms
• The U.S. and EMEA dominate target geographies for service providers
• BFSI, healthcare, manufacturing are most targeted verticals
• IBM, Infosys, Tech Mahindra lead in Banking & Insurance use cases
• IBM, Wipro, EY, Tech Mahindra lead in manufacturing use case diversity
• Wipro, Infosys, TCS, NTT DATA lead in life sciences use case diversity
• IBM, Wipro take lead in Energy & Utilities sector use case diversity
• Tech Mahindra, NTT DATA, Infosys, EY lead in telecom & media use case diversity
• Wipro, Tech Mahindra lead in public sector use case diversity
• The Fortune 1000 is the primary target for blockchain vendors
• Current blockchain-related M&A activity is dominated by technology companies, but we expect service provider M&A to pick up in 2019…
• …with acquiring firms seeking to add specialized capabilities such as throughput acceleration, quantum computing-proofing, and AI
• Vendor roadmaps focus on accelerator development, solution preconfiguration, interoperability, and partner ecosystem expansion
• Moves to accelerate deployment, ease client concerns dominate roadmap initiatives
• 7. Selection Criteria, Challenges, and Success Factors
• Primary drivers of blockchain vendor selection are demonstrable improvements in security, transparency, and transaction processing speed
• Vendor selection is strongly influenced by similarity of proven commercial deployments to new engagements and the provider’s vision for blockchain within digital transformation.
• Principal challenges for vendors today are breadth and depth of solution experience by vertical market, horizontal process, and blockchain platform.
• Downstream success for blockchain services vendors depends on their ability to connect multiple areas of the organization
• Appendix I – Vendors Researched
• Blockchain services vendors researched