Deloitte: Over 1/3 Of Global Companies Are Integrating Blockchain
A recent survey conducted by international auditing firm Deloitte suggests that near 40% of the top-shelf tech companies surveyed are already working on integrating blockchain solutions into their existing business models.
The document, entitled “Deloitte’s 2020 Global Blockchain Survey” subjects a series of surveys between early February this year through March 3, when over 1400 senior executives across 14 countries submitted their respective views on blockchain.
According to Cointelegraph, we see a 16% increase in blockchain adoption compared to last year’s numbers. What’s even more exciting, is the fact that nine out of ten participants were certain distributed ledger technology will become imminient in the foreseeable future.
Deloitte hints it surveyed tech giants hailing from China, Germany, Hong Kong, Singapore, Switzerland, the UAE, the UK, and the US and other countries, although its key focus point was that it managed to attract participants that have “at least a broad understanding of blockchain, digital assets and distributed ledger technology”.
Furthermore Deloitte’s research indicates that near 90% of the survey’s participants are increasingly prioritizing blockchain technology, while most of them aim in exploring digital assets in the future.
In addition, data revealed in the survey suggest that 82% of tech firms representatives are hiring human resources familiar with blockchain technology, underscoring the fact that adopting blockchain architecture is considered a competitive advantage.
You might wonder, what was the response of the remaining 61% of the total participants. Deloitte’s document citates that near 54% of respondents are convinced “blockchain is overhyped” and hold a skeptic approach to the matter.
According to statistical data found in the publication, that is a significant increase compared to the 43% who believed the same thing in 2019 and 39% the year before. Nevertheless, leading economies such as the US and China showcased that 31% of domestic participants in the US had already working on blockchain integration, while the number is near double in China, with 59% of respondents being already involved with DLTs.
As a matter of fact, China is one of the most, if not the most innovative country when it comes to tech adoption, hence investing in blockchain is a national strategy for the People’s Republic of China, and not just a point of debate as happens in other financial centers such as Europe and the U.S.
China is also the first government that announced a state- backed central bank digital currency (CBDC), and has already launched the BSN (Blockchain Service Network), where local and international businesses could deploy their own dapps.
Unlike western participants, Chinese surveyors were 94% strong about digital assets being an alternative if not a replacement for fiat currencies and traditional financial tools.