A recent survey from Deloitte’s 2019 Global Blockchain Survey: Blockchain gets down to business. which interviewed 1,386 senior executives in twelve nations has produced some very positive results when questioned about the importance and relevance of Blockchain and its adoption.Many companies are now offering enterprise-grade blockchain solutions such as Amazon, IBM, Aergo and Oracle and the list of both companies as well as clients interested in the enterprise space is growing!Some interesting figures from the Blockchain Survey shows that enterprise are "Bullish" on blockchain. I have listed some below.86% of senior executives interviewed believe that blockchain technology is broadly scalable and will eventually achieve mainstream adoption.53% of senior executives say blockchain has become a critical priority for their organization this year, 10% higher than last year.Financial services and financial technology (fintech) sectors are leading in blockchain development, according to Deloitte.Blockchain’s three greatest organizational barriers include implementation (which includes replacing or adapting existing legacy systems), regulatory issues, and potential security threats.Additional barriers include lack of in-house capabilities, uncertain Return on Investment (ROI), concerns over the sensitivity of the information, and the lack of a compelling application of the technology. The following are the respondents’ responses to the question, What are your organization or project’s barriers, if any, to increase adoption and scale in blockchain technology?Peoples perception of barriers are becoming more positivehttps://i.redd.it/114kbza67p031.jpg18% of enterprises are planning to spend $10M or more on blockchain initiatives this year, and 23% will spend between $5M to $10M. Senior executives based in each of the twelve nations included in Deloitte’s survey are predicting wide variations in blockchain investment levels. Luxembourg, Switzerland, and Germany are the home nations of enterprises planning to invest $10M or more in blockchain technologies in the next twelve months.Blockchain use cases are proliferating today, with data validation (43%), data access/sharing (40%), and identity protection (39%) being the most popular. Enterprises are piloting blockchain to improve payments, achieve track and trace accuracy throughout their supply chains, and evaluating the digital currency aspects of the technology. It’s important to note that 87% of enterprises first start evaluating blockchain due to its innate strengths for enabling completely automated or touchless business processes. 86% of enterprises are evaluating and piloting blockchain to achieve the goals enabling new business models and revenue streams. Please click on the graphic to expand for easier reading.All in all, a very positive outlook from important people in the enterprise space. Have a look at the survey which is linked above for more details!
Submitted May 27, 2019 at 01:29PM
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