Founded in 2019, Rapid Innovation is a blockchain app development company that helps businesses implement blockchain-based solutions. Recently, it surveyed 200 Fortune 500 executives, and the findings are astounding:
- over 94% of survey participants plan to leverage the blockchain technology in their enterprises
- 89% believe that the next decade of Web3 innovation will define the next 100 years of business
- 37% are unsure of the impact regulation will have on the industry but believe that Web3 development is no different than the early years of the internet
The companies consider various options for keeping up with Web3 development. Some plan to integrate cryptocurrency payments or improve data exchange and workflow automation with blockchain technology. Other possibilities include tokenization and metaverse-themed rebranding.
"I cannot help but think of the innovator's dilemma, where companies must adapt their businesses to keep up with revolutionary technologies or risk disruption by newcomers. The best thing Fortune 500 firms can do today is invest heavily in R&D to ensure they deeply understand blockchain technology and the implications it has on their business, so they can adapt and prosper or fall into irrelevance," said Rapid Innovation CEO Jesse Anglen.
Rapid Innovation CEO believes that the blockchain industry will grow at an exponential rate within the next 5-10 years. The new technology will benefit everyone – not just finance, but also art, supply chain management, music, gaming, telecommunications, healthcare, and more.
“Everyone from mom and pop retailer investors, to corporations, asset managers, and eventually sovereign nations will adopt this new technology in one form or another. “