Blockchain is coming of age - 40 percent of respondents produced Blockchain: Deloitte's 2020 Global Blockchain Survey
Leaders are increasingly investing in blockchain and digital assets as a top strategic priority, with 66% forecasting investments of $ 1 million or more over the next 12 months.
Deloitte, who recently released the 2020 Global Blockchain Survey, revealed that nearly 40% of the respondents who had Blockchain in production clearly showed that blockchain is gaining traction. The number of companies across the globe currently driving to activate blockchain and integrate their digital assets is accelerating according to a recent survey.
Among the main survey results:
Thirty-nine percent of respondents globally have incorporated blockchain into production. This is a significant increase from 23 percent of respondents signaling production last year.
Fifty-five percent of organizations responded that blockchain is a top strategic priority, up from 53% in 2019 and 43% in 2018.
Nearly 89 percent of those surveyed believe that digital assets will be very very good or an important part of their industry in the next three years.
Eighty-two percent of the respondents said they were hiring employees with blockchain expertise or plans to do so within the next 12 months, compared to 73% last year.
85% of respondents said their companies will lose competitive advantage if they do not apply blockchain (compared to 77% in 2019).
Seventy percent call the speed of regulatory regulation for blockchain solutions and digital assets very quickly.
The survey polled samples of 1,488 executives and senior students in 14 countries (Brazil, Canada, China, Germany, Hong Kong, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, United Arab Emirates, United Kingdom, and United States). Respondents at least have a broad understanding of blockchain, digital assets, and distributed ledger technology (DLT) and are familiar with and able to comment on their organization on investment planning and awareness. Blockchain digital assets, among other metrics.
Linda While the blockchain was once classified as a technology experiment, it now represents a true agent of change affecting the entire organization, he said, Linda Pawczuk, Team Leader. Global and U.S. consultancy on Blockchain and Digital Assets, Deloitte Consulting LLP. Like many groundbreaking technologies, it has evolved from a promising and potentially breakthrough approach to an indispensable solution to organizational innovation. This year's Donkey survey shows that blockchain is firmly entrenched in the strategic thinking of organizations across industries, sectors and applications.
Our survey confirms what we see in the market - an increase in digital assets used as a medium of exchange, a store of value, a digital representation of assets or equity in a company, according to Mr. Rob Massey, Partner, Global and U.S. Tax Leader for Blockchain and Digital Assets, Deloitte Tax LLP. Digital assets are currently enabling advanced commercialization models across industries and geographies.
This is further proof that Blockchain maturity is a valid solution for many organizations and businesses, and according to reports, business leaders are increasingly investing in blockchain and digital assets. is a top strategic priority, with 66% of the investment forecast being $ 1 million. or more in the next 12 months.
The Deloitte report is another assertion in a growing research agency that emphasizes the adoption of blockchain technology and digital assets. The majority of respondents had blockchain in production in their organization highlighting the growing maturity, but there is still much work to be done.
As businesses and organizations begin to consider how we will rebuild the global financial system after this pandemic, incremental progress is a luxury we no longer have. Organizations and individuals should be best equipped to manage financial risks, protect our investments and even grow our assets when the next crisis occurs. Daisies
The widespread adoption of blockchain technology is an important stepping stone in building a new system strong enough to face the challenges that lie ahead and will reward innovators to take action today. This robust and rapid development of a decentralized market structure is rapidly leaving ifs, and is becoming a moment, according to John Wu, President of AVA Labs.
Jackson Mueller, Director of Policy and Government Relations at Securrency added:
A significant increase in the number of jurisdictions interested in or currently implementing the regulatory frameworks responsible for supporting digital asset solutions is a welcome development. According to research by the Cambridge Alternate Financial Center, there are at least 23 regulatory agencies involved in these discussions and we hope more countries will follow their footsteps in the near future. However, a patchwork approach, various treatments or incorrectly defined parameters can threaten the basic advantages of these solutions. In an interconnected, global financial services ecosystem, the development of appropriate standards that facilitate, without inhibition, cross-border transactions is essential.
Seamus Donoghue, Sales and Business Development Office at METACO commented:
The Deloitte Blockchain Report 2020 confirms that blockchain is no longer a problem-solving solution. It is now clear that 2017/18 is an institutional testing period, when use cases are validated with POCs, most of these companies now have a clear roadmap of efficient blockchain use.
As a company that provides infrastructure for the financial sector to allow the transfer of financial markets and capital into blockchain, we see increasing interest from tier 1 and tier 2 banks for integration. their ability to deposit digital assets and cryptocurrencies into their core banking infrastructure, especially in jurisdictions such as Switzerland, Germany and Singapore. American banks have similar ambitions but are clearly lagging behind global leaders because the legal framework for the banking sector remains fragmented. That said, the launch of Libra and the growth of assets in other stable currencies and cryptocurrency financial services provide a growing confirmation of the business case that banks American goods won long ago. We are still very early in the acceptance curve but that path is increasingly clear and will now accelerate.
Deloitte conducted the survey from February 6, 2020 to March 3, 2020, voting for 1,488 senior executives and practitioners in 14 countries and territories (Brazil, Canada, China). , Germany, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, United Arab Emirates, United Kingdom, and United States). The full report can be found: link to the full report.