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Global perspectives on blockchain adoption by industry: The future is now

Key industries share blockchain optimism

Our article series takes a deeper dive into blockchain use cases by industry from the 2020 Global Blockchain Survey. Learn insights from Life Sciences, US Government & Public Services, Banking & Capital Markets, and Manufacturing & Supply Chain.

Industry insights from Deloitte’s 2020 Global Blockchain Survey

Our third annual Global Blockchain Survey, “From promise to reality,” found that blockchain is indeed integral to organizational innovation today. A sample of nearly 1,500 senior executives suggests that initial doubts about blockchain’s usefulness are fading and that business leaders are putting money and resources behind the technology in more meaningful and tangible ways.

As a follow-up to the study, we take a closer look at four industries using blockchain to gauge key sentiment, investments, strategic thinking, and the role of digital assets in blockchain initiatives.

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The after-effects of the pandemic on life sciences ecosystems: Digitization, education, and participation could shape a blockchain-enabled future

Trends emerging during the pandemic could have significant impact on user adoption of blockchain. The pandemic accentuated preexisting concerns about how to handle data and track providence across partners in the value chain. Additionally, social distancing and the virtualization of work created new challenges in collecting, managing, and sharing data.

But the pandemic also spurred positive transformations in life sciences: the digitization of everything and a global cultural shift in education and participation in drug development (e.g., vaccines), which blockchain can play a significant role in supporting. Will these impacts spur lasting consequences for the life sciences industry?

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Governance for government: Consortium model creates new paradigm for blockchain adoption

The US government faces unique challenges when it comes to exploring blockchain, piloting test cases, and implementing solutions. It is uniquely positioned as the regulator, the regulated, and a blockchain consumer.

While the path to implementation may be clearer for the private sector, for government agencies, distributed peer-to-peer constructs intrinsic to blockchain are often affected by the complex politics of cross-agency engagement and information-sharing. This requires a new approach. Will creating a centralized hub to establish a new peer-to-peer engagement model help the government with its systemic challenges?

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US Government & Public Services

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Banking & Capital Markets and the changing paradigm of distributed ledger technologies: The social impacts of financing opportunities, risk, and financial inclusion

Where once blockchain and digital currencies served as instruments for speculation, they are now enabling small-to-medium enterprise (SME) supply chain financing and global trade remittance. This evolution creates new marketplace opportunities for secure transactions.

Even with all the uncertainty in the financial world today, blockchain and distributed ledger technologies are creating positive social impacts for SMEs. This is particularly notable in several areas: improving financing opportunities, reducing risk, and fostering financial inclusion. Will the social impacts from blockchain and digital currencies be sustainable?

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Banking & Capital Markets

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Manufacturing and the new blockchain paradox: How progressive executives can help improve the supply chain ecosystem

2020 has presented a notable paradox regarding blockchain investments that organizations plan to make across their manufacturing and supply chains in the next 12 months. Despite significant organizational investments in blockchain, manufacturing executives are more circumspect and are slower to adopt blockchain than their counterparts in other industries.

We believe there is great business potential beyond operational efficiencies that could change the way the industry works and how suppliers collaborate along the chain. This, in turn, could help build a new imperative for amplified C-suite engagement. But why is there such a disparity between investment in and executive acceptance of blockchain, and how will this affect supply chain in the future?

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Manufacturing & Supply Chain

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