Deloitte: Blockchain, a Top Tech Trend in 2019

The analysis underscores blockchain's capacity for sweeping disruption. It stands ready to fundamentally alter how organizations conduct transactions and interact at the most basic levels. Across industries, major corporations and industry consortiums are already rolling out institutional-grade blockchain platforms. As regulatory frameworks crystallize and technical obstacles diminish, the next several years should bring critical innovations in interoperability architecture, standardization frameworks, and cross-platform integration pathways. The report notes: "Performance and expense challenges in transaction validation are being tackled through proof-of-stake mechanisms gaining traction as an alternative to proof-of-work models, while commercial-grade platforms have surfaced to support and optimize blockchain infrastructure at scale." It continues, "Once these technical breakthroughs materialize, blockchain adoption will accelerate dramatically. The window widens for fundamental overhauls of processes spanning organizational boundaries—opening pathways for unprecedented operational transformation and innovation spanning every sector, department, and market."

Growing organizational familiarity with blockchain's practical applications will continue driving market uptake. Research from IDC anticipates that worldwide investment in blockchain infrastructure and services reaches $9.7 billion in annual spending by 2021.

The report identifies six transformative patterns reshaping how work gets done and repositioning technology departments within their organizations: incorporation of machine learning across foundational business systems and customer offerings; the maturation of cloud infrastructure through greater abstraction and automation of operational responsibilities; next-generation connectivity infrastructure powered by 5G, distributed mesh topology, and localized processing networks; human-machine interaction combining design sophistication with computer vision, voice interfaces, sound-based analysis, and immersive reality technologies; sophisticated customer engagement platforms delivering customized, contextually aware, and real-time interactions; and DevSecOps—merging development, security, and operational functions—automating security implementation through integrated control systems within product deployment workflows.

Arun Ghosh, heading blockchain strategy in the United States for KPMG, echoes comparable outlooks. He expects 2019 to witness surging blockchain implementation throughout energy, government, and other critical sectors. "Clarity around blockchain's actual capabilities and limitations will expand," Ghosh explained. "Public cloud providers offering blockchain-as-a-service will lower entry barriers, enabling organizations to move forward with practical deployments generating measurable business improvements—whether that's streamlining payment and billing reconciliation or fortifying financial institutions against fraud schemes." Token-based systems will gain further traction throughout the year, with consumer rewards emerging as a primary application space. Ghosh foresees enterprises increasingly adopting tokenized incentive programs to strengthen customer loyalty and engagement. Furthermore, he anticipates blockchain technology merging with connected device networks. Blockchain's cryptographic architecture enables organizations to overcome vulnerabilities in connected systems while establishing trustworthy data flows between networked devices and strengthening information security across both IoT and 5G infrastructures.