Survey: Blockchain Technology is Increasingly Used by Companies

Survey : Use of Blockchain is increasing

While the banking world, according to many industry insiders, is too slow to recognize the opportunities of Blockchain, a new survey shows that the opportunities of companies are thoroughly appreciated and used more. 600 executives and professionals in European companies were interviewed by experts from the consulting firm PricewaterhouseCoopers on Blockchain and its impact on the corporate landscape.

More than 80 percent of companies deal with Blockchain

An important result of the study among participants in 15 countries shows that each respondent opined that their own company is already exploring the Blockchain subject area in detail. After all, 84 percent deal “intensively” with the innovative technology, which from an insider’s point of view will influence and change the corporate world at high speed and, above all, sustainably.

For critics, on the other hand, with just 15 percent, as usual, too few companies use this technology for their own purposes. On the other hand, 32 percent of the companies involved in the survey are working on their own developments; Pilot projects run in every tenth company.

What exactly does the study say?

Above all, it becomes clear that technology managers in companies understand what profit they can derive from the blockchain potential in order to massively optimize their own business processes without high costs and in a pleasingly transparent manner. Many business processes can be significantly accelerated.

Furthermore, current data show that China could soon take the lead in developing blockchain-based programs for the US (current US market share: 29 percent).The People’s Republic is still in second place with a share of 18 percent. Within a maximum of five years, however, 30 percent of the respondents see China as the leader. 46 percent of the respondents consider Blockchain to be trend-setting, especially in the financial sector (including emerging industries).

A lack of trust causes restraint, especially in Germany

For 14 percent of executives and professionals, it is also clear that in the medium term, many sectors of the economy, such as the energy industry or the healthcare industry, will experience a change through blockchain. As a major problem, participants in the PwC study cite lack of regulation or insecurity about ripple, EOS, and other blockchain approaches. In addition, 45 percent of respondents expressed “lack of confidence” in the blockchain technology. Incidentally, the regulatory problems are a major dilemma for the German decision-makers (38 percent). In second place of the largest skeptics is Australia with 37 and Great Britain with 32 percent.

 

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