A survey published by Deloitte have revealed that the blockchain technology have gained an enormous positive trend when it comes to the adoption among many industries and enterprises around the world.
The survey had been done over little more than a 1000 samples from senior executives from seven different countries that includes: Canada, China, France, Germany, Mexico, UK and US. All of these companies have been in the range of 500 million dollars of an annual revenue.
The focus of the survey has been on as Deloitte puts it “blockchain savvy” executives from the so called “digital enterprises” rather than from startups or more precisely on businesses that have the experience of implementing “legacy constrained” blockchain solutions and not on “emerging disruptors” whose business models are inspired by the blockchain from their very beginning.
The biggest number of the respondents in the survey or more precisely 74 percent, have stated that the use of blockchain technology is ranking high and their exec team thinks its a “compelling business case” and the rest 34 percent have said that blockchain is in some kind of form incorporated in their plans to include the technology into their organization.
As high as 41 percent of the respondents said that they expect from their company to include blockchain in their everyday workflow in the next 12 months and almost 40 percent have acknowledged that their company will invest at least 5 million dollars or more in blockchain technology next year.
A special explanation by Deloitte has been given for the survey’s results that have showed a number of asymmetries and uncertainties:
“Ultimately, [blockchain is] more of a business model enabler than a technology…for legacy organizations…we’re starting to see a change in approach toward blockchain. Executives in these organizations are moving away from the pure platform view of “What is it?…let’s find a use case” toward development of more sensible, pragmatic business ecosystem disruption.”
There is an obvious slow down in the understanding of the fact that “blockchain represents a fundamental change to their business” which is represented by the numbers the 74 percentage of the companies who say that it is a “compelling business case” for the technology to be implemented against the lower number of 34 percent who say that they have already started their deployment.
In addition the report have noted:
“Adding to the uncertain state of blockchain adoption is the fact that while more than 41 percent of respondents say they expect their organizations to bring blockchain into production within the next year, 21 percent of global respondents—and 30 percent of US respondents—say they still lack a compelling application to justify its implementation.”
A couple of months ago a different survey also regarding blockchain technology that has been done by Deloitte this time concentrated on the retail and consumer packaged goods (CPG) industry has also showed that those businesses that have not took blockchain into consideration are doomed to fall behind.