Deloitte survey: Blockchain adoption substantially increased this year, nearly 40% of surveyed companies implemented blockchain

According to the recent survey by Deloitte, more companies are paying attention to Blockchain. The study, which was conducted from February 6, 2020, and lasted for about a month, polled the opinion of 1,488 top company officials from 14 countries.

deloitte-survey-blockchain-adoption-substantially-increased-this-year

Source: Deloitte survey

Deloitte Global Blockchain Survey: 39% of companies already moved their blockchain projects to production

The results of the survey indicate that Blockchain is evolving from fundamental technology to a strategy in which organizations are creating a part of their operational future.

Industry leaders agree that distributed ledger technology will play a central role in finance, data storage, logistics, and document verification, and several other areas.

Research shows that there are interests and investments in Blockchain and digital assets based on technology. 66% of respondents indicate that their organizations will invest $ 1 million or more in digital assets over the next 12 months.

The survey also showed increasing interest and adoption trends. Industry leaders have also demonstrated their confidence in the strategic role of DLT by recruiting talent in the field. Those who have not done so say they plan to have such internal abilities soon.

Among the critical findings of the study show:

  • 39% of the participants already have incorporated the DLT into their organizational operations such as in production. This is an increase from the previous year in which 23% signaled they were using blockchain in production.
  • 55% of the companies polled admitted that the technology is of strategic importance to their businesses. This is higher than 53% who were of the same view in 2019. In 2018, 43% had that view regarding technology.
  • 89% of the respondents believe that technology would be absolutely a part of their industry in a few years. These are of the opinion that they would encounter and use it in one form or another in their industry in the next 3 years.
  • 82% admitted they have hired or are skilled personnel versed in the blockchain. Those yet to hire said they would likely do so in the next 12 months. Last year, 73% of respondents indicated they hired blockchain experts.
  • 83% of those surveyed believe that technology gives them an edge over their competitors. This is an increase from the 77% that had that view in 2019.

deloitte-survey-blockchain-adoption-substantially-increased-this-year

Source: Deloitte survey

Another point of the study is that 70% of respondents agree that DLT has a high acceptance rate. This has been encouraged by applications in large-scale financial initiatives such as in simplifying international money transfers. The enhanced transparency it provides on data makes it eliminating the need for third-party transaction verification.

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