WSJ CIO Network: Blockchain adoption is still early

Chief information officers are on different pages when it comes to blockchain. Some use it everyday while others are uncertain about its basic structure.

At The Wall Street Journal CIO Network in San Francisco, Feb. 26, c-suite executives discussed everything from 5G infrastructure to artificial intelligence to blockchain. When the event was complete, it was clear that blockchain adoption was still in the early stages, according to an WSJ blog post.

Although blockchain deployments are in small forms, the technology is fully functional. J.P. Morgan Chase & Co. created and tested a cyrtocurrency for payments on its blockchain. The goal is to test how the digital currency could potentially reduce costs and simplify transactions in different capital markets.

"I think we see pull but it is very early days," Bridget van Kralingen, senior vice president of global platforms for IBM's blockchain division, said at the event. She went on to explain how blockchain will have more uses in markets where complex documents are in high-use and where authenticity is challenging.

AI was another hot topic for CIOs.

"AI may be the first technology I have seen, including the internet, that exceeds expectations... and faster," John Chambers, CEO of JC2 Ventures said, according to WSJ. Different CIOs are exploring how AI can be used in the recruiting process and in sales.

To read the complete report, click here.

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