This week a Big Four accounting and consulting firm released its 2019 Global Blockchain Survey. The survey polled 1,386 senior executives across Brazil, Canada, China, Germany, Hong Kong, Israel, Luxembourg, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. Companies selected to participate from the U.S. had $500 million or more in annual revenue. Participants outside the U.S. had $100 million in annual revenue.
Some notable highlights from the survey include the following:
- Critical Priority for More Than Half. Fifty-three percent of respondents said blockchain has become a critical priority for their organizations in 2019 (a 10-point increase from 2018).
- Modest Increases. There were modest increases over 2018 in the percentages of respondents that indicated they believed blockchain would achieve mainstream adoption, drive a compelling business case, replace current record-keeping systems and be needed to maintain competitive advantage.
- Barriers Decrease, Competition Concerns Increase. The perception that organizational barriers would prevent blockchain adoption appeared to decrease, although "concerns over sensitivity of competitive information" increased.
- No Consensus on Consortia. There appears to be little consensus on the criteria used to evaluate and determine whether to join blockchain industry consortia. Popular criteria included aligned objectives, member quality/stature, evidence of and opportunities for influence, cost of participation, regulatory environment, and membership rules/policies.
- Consortia Benefits. Cost savings and learning opportunities were the top benefits companies expected to gain from joining blockchain industry consortia.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
