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“My projection is that between 50% and 60% of companies will use blockchain in the next few years,” said Frank Xiong, Oracle's group vice president of blockchain product development at the Forbes CIO Summit in Half Moon Bay, California, Monday. Blockchain is a kind of shared database that allows users to share identical copies of information on many computers. In the past few years, it's gone from largely supporting virtual currencies like bitcoin to a tool used by companies to more closely and accurately track products or private information that pass through many hands.
In deciding whether to use blockchain, companies should do a pain point assessment, two executives said. Like any venture, they should figure out if it's worth the cost.
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