KUALA LUMPUR (Dec 20): Twenty per cent of large organisations will use digital currencies for payments, stored value or collateral by 2024. Gartner IT practice distinguished vice-president and analyst Avivah Litan said increasing mainstream acceptance of cryptocurrencies on traditional payment platforms and the rise of central bank digital currencies (CBDCs) will push many large enterprises to incorporate digital currencies into their applications in the coming years. Gartner experts recommended that organisations first clarify specific use cases for digital currencies before evaluating appropriate IT stacks to incorporate them within the enterprise. Gartner’s prediction for wider adoption of digital currencies by 2024 is partly driven by the already healthy environment of service providers and off-the-shelf solutions available to large enterprises that have identified a specific use case for digital currencies. Litan said among the primary use cases for digital currencies that Gartner had identified, there will be no need for most organisations to develop a customised blockchain application stack.

Source: The Edge Markets December 20, 2021 14:26 UTC