The latest survey by audit giant Deloitte shows us that nearly 40% of respondents from leading technology companies worldwide currently have a blockchain in production, and nearly nine in ten think that blockchain will become more important in the next three years.
According to the results of Deloitte’s 2020 Global Blockchain Survey conducted between February 6 and March 3, 2020, 39% of 1,488 senior executives and professionals in 14 countries said they have already incorporated blockchains into production at their companies, a 16% increase from last year’s figures. The number rises to 41% when companies with more than $100 million in revenue are considered.
The audit giant conducted the survey of participants from: Brazil, Canada, China, Germany, Hong Kong, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, the United Arab Emirates, the United Kingdom and the United States who have „at least a broad understanding of blockchain, digital assets and distributed accounting technology.
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Blockchain is a growing priority
The survey revealed that many companies are increasingly prioritizing blockchain technology and the potential of digital assets in the future.
„Nearly 89% said they believe digital assets will be very or somewhat important to their industries in the next three years,“ the report said. „An absolute majority (53%) believe that digital assets will be very important.
According to Deloitte, these high numbers may be related to hiring practices. The audit giant reported that 82% of respondents said they would hire staff „with blockchain experience“ in the next 12 months, almost the same percentage, 83%, said they would lose a competitive advantage if they did not begin blockchain adoption.
However, not all the answers concerning blockchain innovation were positive. The survey showed that 54% of respondents believe that „blockchain is overrated,“ an increase from 43% who said the same in 2019 and 39% in 2018.
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China stood out
Deloitte reported that the adoption of Bitcoin Profit was more accepted in certain countries. For example, while 31% of respondents in the United States said they already had a blockchain in production, this number was almost double (59%) in China.
Digital assets are increasingly popular throughout Asia. Of those surveyed in China, 94% said they „strongly“ or „somewhat“ believe that digital assets will serve as an alternative or replacement for fiat currency in the next 5-10 years.
Although the Deloitte survey was conducted during the early stages of the pandemic, Cointelegraph reported that a similar survey in April showed that interest in blockchain technology in China had declined significantly, with 70% of respondents remaining optimistic about its potential.