This report focuses on the enterprise blockchain division within Cisco. The firm seemed intent on leveraging distributed ledgers to enhance its existing strengths at the network layer, but recently we learned that Cisco has essentially stopped investing in blockchain and plans to open-source its work to date. Intriguingly, Cisco had been promising a network-embedded option soon. This would have taken Cisco in a truly different direction from its competitors and played to Cisco’s strengths, as well as taking blockchain in new and groundbreaking directions.