Deloitte published the results of a survey conducted on major technology companies around the world, with the broad conclusion being that “doubts are fading further” with regards to blockchain technology and that is “solidly entrenched” in the business strategy of said companies. Shifting its focus from last year’s survey, the 2020 survey also identified 100 respondents specifically engaged in blockchain development projects and have received $3 million in funding for related ventures.
The Deloitte 2020 Global Blockchain Survey was conducted from February 6 to March 3. Deloitte notes as a key takeaway that blockchain technology has moved from being a technology of promise to one of the integral values for an organization. The responses highlight this opinion, as 55% of respondents said that blockchain tech would be critical and in the “top 5 strategic priorities” over the next two years.
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It also shows 39% of senior personnel in technology companies across 14 countries that they are implementing blockchain technology in some form. Analysts have discussed the maturation that cryptocurrencies are facing, and it appears that incumbent companies also see the same happening with blockchain technology, with 88% of companies saying that blockchain technology is scalable and will eventually see mainstream adoption.
While many cryptocurrency and blockchain enthusiasts already hold that view, it is worth noting that incumbents who feel the same indicate that there is a broader acceptance of the technology’s legitimacy.
On the subject of cryptocurrencies themselves, 59% of companies surveyed said that they would consider implementing digital assets like Bitcoin (BTC) and Ethereum (ETH) in their business models. To that end, when asked if digital currencies would replace fiat currencies, an overwhelming major agreed in most cases.
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As a final statement on the growth of the industry’s legitimacy, the number of companies that are working with the technology currently is a 16% increase from last year’s survey.
