Though blockchain hasn’t reached its full potential, savvy executives surveyed for Deloitte’s 2019 global blockchain survey are confident about new and evolving use cases; they continue to see the technology as a connecting platform that can enable many business processes. Since our last survey,respondents report that overall corporate blockchain investment is growingacross most sectors as new, practical applications gain traction.
Last year’s survey showed blockchain adoption reaching a turning point: Momentum had begun shifting from “blockchain tourism” and explorationtoward the building of practical business applications. Financial services and,more specifically, the financial technology (fintech) sector were leading inblockchain development, while other industries were cautious in their searchfor use cases to provide a return on investment to justify the cost and effortof implementing blockchain solutions.
Today, fintech remains a blockchain leader, but more organisationsin more sectors - such as technology, media, telecommunications, life sciencesand health care, and government - are expanding and diversifying theirblockchain initiatives. Still, despite these advances, progress remainsmeasured in the wake of blockchain’s first cyclical rise and fall, and theresulting attitude shifts following the initial blockchain buzz.
The 2019 survey data points to signs of blockchain’s increased maturity. For example, respondents saw blockchain providing more diverse advantages than in 2018. Similarly, the increasing diversification of potential use cases for blockchain - and the wider array and greater parity of identified barriers to blockchain adoption - suggest further signs of maturation.
To find out more, read the full report analysis.
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