With the increasing popularity and craze of blockchain technology, the blockchain providers market is booming nowadays. There are plenty of enterprises that want to get services from blockchain providers. However, the technology is still not mature enough.

As a result, the blockchain providers mainly offer services like strategic advise or proof of concept. There’s been a very low amount of live projects due to the complex nature of it.

However, with the rapid development, it’s only a matter of time when blockchain reaches the ultimate maturity. Thus, it would best to get a head start on the big race right now.

That’s why in this guide, I’ll introduce top blockchain providers on the market to help you out. Moreover, you’ll also learn what the current situation is and what challenges the enterprise face in terms of blockchain implementation.

So, let’s start!

 

Table of Contents

Chapter-1: What Challenges Do The Enterprise Faces In Implementing Blockchain?

Chapter-2: Blockchain Providers Impact

Chapter-3: Blockchain Providers: Different Phase Offerings

Chapter-4: Top 10 Enterprise Blockchain Service Providers

Chapter-5: Conclusion

 

Chapter-1: What Challenges Do The Enterprise Faces In Implementing Blockchain?

Let’s start off with the challenges. Basically, many enterprises don’t have enough understanding of what blockchain technology really is. On the other hand, some of them do understand it, but then face other issues of blockchain providers.

Anyhow, I’ll divide up all the challenges in three different parts. Let’s see what they are –

Primary Challenges

• Nascence of blockchain solutions

Many of the enterprises didn’t ever hear about blockchain technology. Thus, in many cases, just after knowing about it, they get overexcited and jump into implementing it. Therefore, in many cases, they fail.

• No Understanding of How the System Works

Well, in most cases, enterprises don’t understand how exactly blockchains work. On the other hand, they don’t know about the extreme functionality of it either. As a result, they don’t seek any strategic advice form, blockchain providers.

• Not a Mature Technology

In reality, blockchain isn’t a mature technology. Thus, most of the services the blockchain providers offer aren’t mature either. This creates a massive challenge for the enterprises at present.

• Not Enough Success Stories

Because of the complex nature of it, many blockchain providers still can’t offer the right amount of success stories in the market. This creates a wrong impression on the enterprise.

• Buy-in Situations and Disruptions

In reality, if enterprises want to use this technology, they’ll have to change their business models. However, that would only mean a threat for the stakeholders. As a result, they buy-in just when the business model starts to change.

Anyhow, almost 90% of the enterprises deal with these primary challenges while looking for blockchain providers.

 

Secondary Challenges

There’s only 9% of enterprises that make it to the second level of challenges. These are –

• Lack of Clarity

In reality, most of the enterprises don’t have any clarity on how the technical architecture should be. Thus, many make mistakes while trying to develop a platform on their own.

• Can’t Quantify the Benefits

The benefits of blockchain platforms are enormous. However, it’s mostly long term, and many enterprises don’t have any way to measure the ROI when they use the tech.

• Too Much Consortia Challenges

Working in a consortium environment requires a lot of management skills. Moreover, you’ll need to know how to set-up these platforms and what kind of governance role should your enterprise play. But, most of the enterprises tend to face difficulties in these situations.

• Privacy and Security Concerns

Without proper security layers, enterprises will be vulnerable to attacks. However, they fail to set-up proper security protocols and preserve privacy in order to avoid any hacks.

• Indecision

Most enterprises fail to choose the correct blockchain type for their company. Basically, they can’t decide whether they should go with permissionless or permissioned.

 

Tertiary Challenges

These are the last level of challenges any enterprises face. Only 1% of the enterprises make it to this level.

• Not Enough Concerns about Formal Regulations

Even though blockchain providers offer a central authority less structure, still to make it fully applicable, it needs to have some regulations. Moreover, every enterprise needs to follow some specific regulations of the country they are conducting business. However, when they convert their platforms to the blockchain, they seem to overlook all the regulation issues.

• Lack of Experienced Developers

Because blockchain is a fairly new technology, it’s very hard to find the perfect talents to work on it. In reality, very few developers have experiences relating to blockchain. Thus, it’s best to work with blockchain providers as they already have a good selection of blockchain developers.

• No Interoperability or Market Standards

There are very platforms that offer a standard for blockchain platforms. But, in most cases, there are no adequate standards to follow. On the other hand, the lack of interoperability of these platforms makes it difficult to expand.

• Problem with Legacy Network Integration

In reality, the process of integrating with legacy networks is quite difficult and costly. However, some blockchain providers offer these services now.

• Throughput or Latency Issues

When it production phases, the load on the system becomes too heavy. As a result, maintaining optimum throughput becomes much more difficult.

• Undefined Service Support

There’s a lot of blockchain providers on the market that don’t offer a proper explanation of what kind of services would they provide. As a result, many enterprises pick the wrong ones.

• Managing Cultural Changes

Well, our cultures are tightly intertwined with our industrial output. So, when there’s a change in the industries, it affects our cultures as well. Sometimes it becomes difficult to manage the changes properly.

 

Chapter-2: Blockchain Providers Impact

Blockchain providers with their solutions are impacting the industries significantly. According to Gartner, it’s evident that almost all the industries would be disrupted by 2030. But small changes are already seen among the enterprises.

So, let’s see what changes these blockchain providers will bring.

 

Near Term: Full Business Impact

Efficiency Gains

Well, after starting to use the platforms, many businesses would see the efficiency increase in their production. In reality, blockchain service providers offer revenue increases as well.

Traceability and Tracking

Tracking any product or a process is fairly difficult now. But with blockchain service providers, you can easily get a platform that would offer real-time monitoring.

Process Excellence

The process of conducting any kind of business would change rapidly. It would offer more excellence in processing.

Digitization

In reality, the whole industry will go through a massive digitization process due to the blockchain service providers. So, the industries would have to invest a lot of money and resources to shift to another spectrum entirely.

Identity

Digitization of identities would be the last chance you’ll see in the near term. Most of the blockchain service providers offer high-end support for decentralized identities. Therefore, it can change how we store or sue our identities forever.

 

Medium Term: New Competitive Infrastructure

After the small changes in the near term, all the changes would introduce new infrastructures for some sectors.

New IT Infrastructure

With help from blockchain service providers, the IT industry will go through a massive change. Basically, you’ll see a completely different IT infrastructure.  Moreover, they would be completely decentralized and without any influence of centralized authorities.

Also, they would offer a greater level of security and privacy for the users. And blockchain providers would have a huge part to play in this.

More Trust in Multi-party Collaborations

At present, a very small amount of enterprises have full trust in multi-party collaborations. Basically, due to the lack of trust and management issues, partnerships tend to fall apart. However, with the popular rise of consortium platforms, the scenario would change greatly.

You can get the proper consortium service from blockchain solution providers quickly. Moreover, there’s a lot of blockchain solution providers that offer various consortium solutions.

New Transaction Management System

Well, blockchain does offer a new model for transaction management. In reality, our typical transaction management system lacks big time. It takes days to complete a transaction. Moreover, oversees payments are a lot of problematic and could take a lot of days to process.

On the other hand, blockchain solution providers offer a faster output. Thus, it will ultimately change the way how the transaction management sector is handled.

 

Long Term: Creative Disruption

Many experts envision a creative disruption for the long term. Even though blockchain providers would see these changes in the long term, still these will ultimately happen.

No More Intermediaries

Basically, in the long term, almost all companies would start to use blockchain. Thus, every system would be decentralized, and it would get rid of intermediaries for good. On the other hand, with blockchain solution providers blooming exponentially, you’ll see a decrease in third party services.

Instead, people would move to peer-to-peer services more.

New Form of Business Models

Well, the typical structure of how we conduct business would change completely. Furthermore, we’ll see a lot of new marketplaces open up due to the blockchain solution providers. These marketplaces would cover decentralized internet services, decentralized security protocols, decentralized applications, and many more.

Traditional Business Disruption

At last, many enterprises would face a total disruption in business. As all the industry would lean towards distributed ledgers from blockchain solution providers, centralized businesses would no longer exist.

It should end all the issues we face in a centralized system and offer a more secure and corruption-free environment.

 

Chapter-3: Blockchain Providers: Different Phase Offerings

Typically, blockchain providers offer their services in different phases at present. As they still can’t offer a full live project implementation, most of them focus on the initial phases of these services.

However, there are a handful of blockchain providers that are starting to offer complex solutions as well. So, let’s see what these different phases are and what the blockchain providers are offering in each segment.

Advisory: 63% of All Blockchain Infrastructure Providers Offer These Services

• Analyzing the Impact

Blockchain technology service providers would analyze how blockchain would affect your organizations.

• Possible Business Tactics

Blockchain technology service providers would come up with different tactical models for your business.

• Future Roadmaps

After consulting with you and knowing about your company needs, they would come up with a future roadmap for you.

• Ideation Workshop

To give you a better idea, these blockchain providers would offer direct lectures to help you understand how the system works.

• Identifying Use Cases

In reality, they would offer possible use cases of blockchain best suited for your enterprise.

• Analyzing Requirements

Most blockchain providers would offer the requirements for your company to withstand the blockchain disruption.

• Developing Business Cases

Another great blockchain technology service providers solution is curating business cases that revolve around your business.

 

Prototype: Only 22% of All Blockchain Infrastructure Providers Offer These Services

• POC Development

Blockchain technology service providers also offer POC development before jumping into production level. It helps in maintaining a steady business strategy for the long term.

• Designing Process

Well, here, mainly the blockchain providers offer technical perspective to the designing process.

• Stakeholder Alignment

Before prototyping, all the stakeholders of your company needs to be completely aligned with the new changes. Thus, the blockchain providers would have a meeting with them and get them aligned with the changes.

• Prebuilt Solutions

In many cases, the solution you are looking for may already exist. In reality, these providers do have previous experience. And so, they could offer you prebuilt solutions to test out.

• Reference Architecture

In many cases, these companies follow a reference architecture and make small changes to it. Thus, you get an easy solution with your requirements.

• Implementing Frameworks

Implementing the frameworks mainly happens in this phase. In reality, they’ll let you decide what type of framework you want and what the best one out there is.

 

Pilot: Only a handful such as 9% of All Blockchain Infrastructure Providers Offer These Services

These are some of the limited services blockchain providers roll out. Only a handful of companies offer these solutions.

• Technology Strategy

In the next phase, you’ll get technological strategies that are directly in sync with your business as well. Without a proper technological strategy, you would waste a lot of time and resources.

• Offering APIs

Many of these blockchain providers offer APIs. In reality, you’ll need APIs to get the full functionality out of your blockchain solution.

• Risk Analysis

Risk management is a grave necessity when it comes to implementing blockchain. Thus, before you jump in, understand what risk factors you’ll be facing.

• Legal Terms

Legal terms would ensure that your blockchain solutions don’t break any laws. Thus, many blockchain providers have legal advisers to help you out.

• Governance Structure

You’ll have to be very careful about this one. In reality, every single blockchain technology comes with a different kind of government structure. So, when you get services from the providers, you need to make sure what type of governmental infrastructure you want. Obviously, the companies would offer their advice, but you need to be in sync with them too.

• Data Privacy

Only a handful of companies can offer this one. And keep in mind, this is one of the high-risk points.

• Risk Management from Third Party

There’s an adequate amount of risks associated with blockchain solutions. In reality, many can’t offer these services. So, instead, they take these services from third parties when you need it.

• Regulatory Compliance

Every single blockchain provider offers regulatory compliances in this phase. Without proper regulation, the system would fall apart.

• Cultivating Digital Trust

Let the providers handle the marketing of your digital solution. In many cases, your consumers might not fully trust the new system. However, with proper help from the providers, you can easily cultivate the trust within your consumers.

 

Production: Only 5% of All Blockchain Infrastructure Providers Offer These Services

Merely a handful of companies can offer these services for the next phase.

• Disaster Recovery

In case of any disasters, there’s needs to be a recovery plan in progress to back it up. In reality, the system is still immature; thus, a disaster scenario wouldn’t be a shock. But you’ll always need to have a backup plan to deal with the issues.

• Continuing Business

So, you are rolling out a solution. But you’d need to make changes from time to time and expand your boundaries to keep your business in the market. You definitely don’t want to become irrelevant any time soon.

• Securing Data

You’d need to have an added layer of security in your system. Only a few companies offer this at present.

• Integration with Legacy Systems

Replacing legacy networks would need a lot of time to process. Moreover, this process is quite complex. As a result, many companies can offer them.

• Modification of Business Processes

Most of the blockchain providers offer modification services, which allows better accommodation for the changes.

• Cloud Management

In the future, all of the networks would be up on the cloud. Thus, it needs to have proper cloud management to get rid of the risks. A few of the consulting firms offer this solution.

• Data Standards

Data standards are necessary to have a stable network system.

 

What Are the Statistics?

As you can see, only 5% of providers are in the last phase of implementing blockchain. So, there are only a few live projects on the market now.

2017: In 2017, only less than 10 live projects were on the market without any issues and proper functionalities.

2018: here, the live projects were greater than 135 and increasing rapidly.

2019: We still don’t have an exact number, but it definitely is more than 2018.

 

Chapter-4: Top 10 Enterprise Blockchain Providers

IBM

IBM is one of the top blockchain providers on the market at present. In reality, it offers a lot of solutions at present. These are mainly innovative consulting services, supply chain ecosystem, designing, and many more.

The best part about this enterprise blockchain provider is that it has a lot of projects under its wings. Moreover, there’s an array of collaboration, and their success rate is really high. Other than these, they have premium quality developers that would address all your needs.

In a sense, they are the pioneers of blockchain providers and currently holds the top position. Another great thing about this company is they have a close relationship with their clients. So, you won’t have to worry about your requirements because they would take care of everything.

However, you need to know they only offer Hyperledger Fabric as the base of any blockchain solution for now.

 

Infosys

Infosys is another one of the top blockchain providers on the market. Mainly they offer a dedicated channel for researching into blockchain and how it’s going to impact specific companies. Also, they make sure that they can deliver the right solution for any kind of industry.

With them, you can create a collaborative environment, where you’ll get the value you deserve. Moreover, achieving interoperability and offering a full ecosystem is their priority as well.

Anyhow, this company also offers some limited services as curating benefits and discovering the possible risk factors. Also, keeping sure that all stakeholders are in on the project is their specialty.

Anyhow, they have a platform-agnostic framework for you to try out. Other than that, they have a very big fan base as well.

 

Wipro

Wipro is a wonderful and one of the best blockchain providers at present. To make sure you get all the features of the blockchain, Wipro will always offer the latest version of a mature platform.

This way, you’ll get a stable network without any further issues. Anyhow, they mainly focus on workshops, ideations, designs, and co-creation. All this will lead to the technical delivery of the system. But before you work with them, you’ll have to sit with their strategic advisors and make up a roadmap.

Thus, by following all the rules of the blockchain, they lead to successful project execution.  Some of their services include –

Technology and industry, cover business, application and infrastructure services, business and technology consulting, ecosystem services, strategy consulting, and many more.

 

NTT DATA

Well, NTT DATA is another one of the top blockchain providers on the market. They mainly prefer consulting approaches in term of blockchain services. So, first of all, you need to get a full understanding of what blockchain really is and how it can change the industry.

Next, they’ll go through various forms of the ideation process, which will allow you to create a useful roadmap. It will also have a feasibility study to help you out. However, with NTT DATA, you’ll get either Hyperledger or Ethereum. In reality, they’ll use private and public cloud system to create the network.

Anyhow, later you’ll get POC implementations and services form them, and it will help to make the project a huge success.

 

Cognizant

Cognizant is yet another top blockchain providers at present. With them, you’ll get proper blockchain adoption, use-case assessment, POC creation, executive advice, and many more. If after all the phases you get a functioning system, then they’ll roll out the system as well.

Anyhow, their structured platform connects the blockchain to your business processes and helps out clients to select which platform works best for them.

After it builds a POC, it will develop a minimum viable ecosystem to get the attention of the consumers faster. Thus, it can also link legacy networks with blockchain using APIs. Some of its use cases include credential tracking, digital identity processing, payments or settlements, 3D printing, and many more.

Anyhow, they also focus on workshops, ideations, designs, and co-creation. All this will lead to the technical delivery of the system.

In reality, they’re partners with R3.

 

KPMG

KPMG has a start to finish blockchain expert administrations practice. Generally, 25% of its procedure protocols are devoted to business counseling around key prioritization such as use cases, demonstrating, instructions, working models, and ecosystem design plans.

That’s why it’s one of the top blockchain providers in the market. The rest of their services include prototyping, necessities, pilot testing, administration, combination, and production.

Other than that you’ll also get extra benefits around inspecting, testing and ICOs. KPMG’s emphases on the fit of blockchain with other developing advances and businesses empowering the industries.

Anyhow, the best way to get their services would be to get help from their consulting solutions as well. Because without proper consulting, the resulting system might not be perfect.

 

TCS

TCS means to give you key association, helping customers see the blockchain opportunity in their company, and adjust for the arrangements and changes. That’s why they are also considered one of the best blockchain providers on the market.

In reality, it’s business value delivery model tries to help members in blockchain feasible outcomes and develop a perfect way to deal with advancements.

Anyhow, they also offer to create systems to administer an environment that will go with the system requirements. It also offers POC creation by themselves and help you out in different stages, and give you what you deserve the most.

The rest of their services include prototyping, necessities, pilot testing, administration, combination, and production.

At present, TCS is partners with Monax, IBM, BigchainDB, and many more.

 

Accenture

Well, you must have already heard about Accenture by now. At present, they are on the best blockchain providers list of 2019. With help from Accenture, you’ll get a different perspective in terms of your blockchain implementations.

Practically, they are highly innovative. Moreover, they know the market really well. So, to help you out in case of blockchain platform would be a piece of cake. Anyhow, their diverse experiences are what makes them so lucrative.

In reality, you’d get strategies and get hands-on training to help you build your solution perfectly. However, they aren’t like other typical providers on the market.

Anyhow, later you’ll get POC implementations and services form them, and it will help to make the project a huge success.

 

EY

EY has three strands to its plan of action, where the first one is to get revenues from selling different blockchain software. Additionally, they also offer membership-based administrations. Anyhow, along with these, you’ll get counseling administrations to plan and execute blockchain solutions for customers by any means.

Moreover, it gives review and assessment administrations to organizations that deal with blockchain environments, and it guarantees the right usage of smart contracts.

In reality, they are quite popular and have a lot of successful projects under its wings. The experience makes them one of the best blockchain providers.

But you’ll be glad to know that they worked with Hyperledger, Ethereum, Corda, Quorum and more popular platforms.

 

Deloitte

Deloitte offers counseling administrations for new businesses and undertakes workshops in order to help their customers. In reality, you’ll get blockchain ideation, advancements, models and arrangement improvement facilities form them. So, you’ll get all the value from your investments and within time too.

With them, you can create a collaborative environment, where you’ll get the value you deserve. Moreover, achieving interoperability and offering a full ecosystem is their priority as well.

At the moment, they have six kinds of consulting services. So, for starters, you’ll get a different kind of strategies and plan on how to improve your company’s visions. On later stages, they would offer many platform designing processes and developing roadmaps.

Furthermore, you’ll also get to add any new feature to their existing platforms, which would be very easy to do.

That’s why they are also on the list of best blockchain providers on the market.

 

Top 10 Blockchain Providers on the Market

Blockchain Provider	Summery	Execution Success	Innovation Capabilities	Voice of the Customers
IBM	Has a significant amount of live projects	4.75	4.5	4.5
Accenture	Consulting and execution of robust ecosystems	3.25	4.3	2.75
Deloitte	Business-centric, platform-agnostic, cross-functional, and global services	4	3.25	2.5
EY	Strategy-led production-grade solutions with a clear vision	3.3	3.25	2.5
Infosys	Scaled up capabilities and services ready for the market	3.25	3.8	3
Wipro	Committed to enterprise blockchain adoption	3.20	4	2.5
NTT DATA	Full technical support capabilities and strong client management	3.20	3.8	2
Cognizant	Full-time blockchain ecosystem implementations	2.5	3.8	2.1
KPMG	A business-focused and multi-disciplined approach	2.4	2.52	2.4
TCS	Strategic vision and long term investments	3	3.25	1.25

 

Note: This table is based on an analysis of all the blockchain interactions throughout the years. Also, keep in mind that this is just speculation. The real values may vary.

 

Chapter-5: Conclusion

In the end, blockchain is going to disrupt how the industry is working at present. There would be various stages for it, but the end result would be the same. Moreover, many businesses would come to an end, and new marketplaces will rise up.

In this situation, you should definitely get the jump start with blockchain providers. Anyhow, I’ve described all the challenges you may face and what kind of services you should expect.

You can also check out the top blockchain providers to get the premium support from the start. Hopefully, with a proper strategy, you can secure your place in the $3.1 trillion dollar industry by 2030.