Blockchain "is getting closer to its breakout moment" - Deloitte survey

22 Jan, 2019
by Richard Allen
Blockchain
Blockchain is getting closer to its breakout moment - Deloitte survey

One of the Big Four accounting firms, Deloitte, released their 2018 global blockchain survey report which asked 1,000 blockchain executives around the world what they think of blockchain.

The survey revealed that, ultimately, “some of the biggest names in the financial services space are currently investing heavily in and acquiring blockchain capabilities.” According to the survey, 39% of respondents plan to invest more than $5 million while 16% have stated they plan to invest more than $10 million.

Meanwhile, the survey revealed that, as for businesses in the United States, the majority stated they would be investing in blockchain with just 16% saying they had no investment planned. 35% of Chinese companies stated they would invest between $1 million and $5 million, and 21% of Mexican companies noted $10 million or more set aside for blockchain investment.

84% of respondents agree that blockchain is broadly scalable and will eventually achieve mainstream adoption. 77% agree that suppliers, customers and/or competitors are discussing or working on blockchain solutions, while 39% state that blockchain is overhyped.

73% of respondents believe that blockchain will disrupt the automotive industry, while 64% believe financial services ill experience disruption.

Interestingly, while 32% believe blockchain will provide greater speed, 2% of respondents feel that blockchain technology will have no perceived advantage over existing systems. Additionally, 78% feel that they will lose competitive advantage if they fail to implement blockchain technology.

Read more: Spain turns to blockchain for renewable energy; New York City opens new Blockchain Center in Manhattan

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Read more about: Deloitte Blockchain

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