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Deloitte Survey Shows More Businesses Preparing To Roll Out Blockchain Products




Deloitte announced some of the findings from its 2018 blockchain survey of companies. The results show increased corporate momentum behind blockchain products.

At Consensus 2018 on Tuesday, Deloitte announced findings from its March-April 2018 survey of 1,053 representatives of companies with annual sales of at least half a billion dollars. The companies surveyed include a wide array of industries, such as financial services, technology, and healthcare, and are based in seven countries: Canada, China, France, Germany, Mexico, the UK, and the US.

Linda Pawczuk, head of the Deloitte US Financial Services Industry Blockchain group, was on hand to present some of the findings with Rob Massey of Deloitte Tax LLP.

When asked to characterize how their organizations view the relevance of blockchain technology to their businesses, 43 percent of participants said it was "critical." Relatedly, 41 percent believe their companies will launch a blockchain application within 12 months, and 34 percent already have a blockchain system in place. Even those who aren't quite ready to jump in expressed interest. Nearly three-quarters of respondents said there is a "compelling business case" for blockchain.

But while, overall, the respondents expect the technology to revolutionize the industry, many are also downplaying the potential effects, with 44 percent of surveyed American executives finding blockchain technology to be "overhyped"; 39 percent of global execs agreed.

Still, the report indicates an uptick in interest from a 2017 Deloitte survey, when 39 percent of senior executives indicated little-to-no knowledge of blockchain. Of those with knowledge, just 22 percent were working on a blockchain product and 25 percent planned to do so within 12 months.

A full report is set to be delivered later this year.

Jeff Benson

Jeff Benson is Managing Editor of ETHNews. He's worked as a writer and editor everywhere from Sudan to Reno. He holds a bachelor's in politics from Willamette University and a master's in nationalism studies from University of Edinburgh. When he's not in the newsroom, he trots the globe and writes about it. He holds a bit of value in ETH.

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