2018 Global Blockchain Survey
Breaking blockchain technology's opportunities open
Deloitte’s global blockchain survey polled more than 1,000 global blockchain-savvy executives from seven countries and nine industries. The survey indicates the general business opinion on blockchain technology and where the technology could be heading.
When will blockchain technology reach its breakout moment?
While not quite ready for primetime yet, blockchain is getting closer to its breakout moment with every passing day.
At the moment, there is a shift occuring from a focus on learning and exploring the potential to identifying and building practical business applications. It just may not be happening when and where we expected.
In our survey we polled a sample of 1,053 senior executives in seven countries (Canada, China, France, Germany, Mexico, United Kingdom and the United States) at companies with more than $500 million or more in annual revenue. The respondents had at least a broad understanding of blockchain and were familiar with and able to comment on their organisations' blockchain investments plans.
The release of survey highlights in this document reflect the executives' opinions and perceptions around blockchain and potential impact of the technology in the future.
Assessing the opportunities of blockchain technology
Our survey reveals that the polled executives see great value in blockchain’s potential to reinvent processes across the business value chain. On top of that, there is a wide interest to invest in a wide range of use cases.
Partially due to this finding and as more organizations put their resources behind blockchain technology, we expect blockchain to gain significant traction as its potential for greater efficiency, support for new business models and revenue sources, and enhanced security are demonstrated in real-world situations.
Blockchain technology: worth the investment?
Among the general public, early adopters, such as crypto-currency traders, have helped to bring mainstream notoriety to blockchain. For all this advocacy, however, there remain a significant number of skeptics who view blockchain as the overhyped engine behind a volatile and unregulated financial market.
While 78 percent of our survey respondents believe they stand to lose competitive advantage if they do not eventually implement blockchain, they see a variety of obstacles moving forward, with a full one-third saying they believe their current return on investment (ROI) in blockchain technology remains “uncertain.”
However, the only real mistake we believe organizations can make regarding blockchain right now is to do nothing. Even without a completely solid business case to implement, we believe that organizations should at the very least, keep an eye on blockchain so that they can take advantage of opportunities when they present themselves.
For more information on blockchain technology, its implications and/or the 2018 Global Blockchain Survey? Please contact Toon Segers or Jacob Boersma through their contact details below.