
Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.
39% of the participants of the survey conducted by Deloitte have incorporated the DLT into their organizational operations such as in production.
A recent survey by Deloitte shows that more companies are paying attention to blockchain technology. The study which was conducted from February 6, 2020, and lasted for about a month polled the opinion of 1,488 top company officials from 14 countries.
The result of the survey indicates that blockchain is evolving from a peripheral disruptive technology to a strategic one in which organizations are making a part of their operational future.
Industry leaders agree that distributed ledger technology would play a central role in finance, data storage, logistics, and verification of documents and in several other fields.
The study shows that there is increased interest and investment in blockchain and digital assets based on the technology. 66% of respondents indicated that their organizations would invest $1 million or more in digital assets in the next 12 months.
Deloitte’s Global Blockchain Survey which is in its third year shows increased interest and tendency towards adoption. Industry leaders also have shown their belief in the strategic role of the DLT by hiring talents in the field. Those that have not done so said they have plans to have such in-house talents in the near future.
Among the important findings of the study shows that:
Another takeaway from the study is that 70% of respondents agreed that the DLT has a high adoption rate. This has been incentivized by the application in large-scale financial initiatives such as in the simplification of international remittances. The enhanced transparency it confers on data makes it eliminate the need for third-party verification of transactions.
Linda Pawczuk, a blockchain consultant with Deloitte Consulting LLP, stated:
“While blockchain was once classified as a technology experiment, it now represents a true agent of change that is affecting the entire organization.”
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Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.