July 06, 2018 199By Nathan Bentley
“When it comes to adoption by industry, 23% of the respondents said that blockchain was implemented in financial services, while 18% revealed that the technology was used in technology, media, and telecommunications sectors. An overwhelming 84% of the respondents said that blockchain was more secure than traditional IT systems, with just 8% stating that it was less secure, and 8% being unsure.”
“The majority of executives, 78%, are sure that not implementing the emerging technology would reduce their competitiveness. However, a third of the respondents see several obstacles embracing blockchain, saying that their return on investment (ROI) related to DLT is still uncertain. Other barriers refer to regulatory issues, security threats, and lack of understanding or skills.”See more for yourself, here. As a result of these findings, Deloitte are alleged to now be encouraging their own clients to put funding into exploring blockchain technologies. According to Cryptovest, Deloitte have said:
“The only real mistake we believe organizations can make regarding blockchain right now is to do nothing. Even without a completely solid business case to implement, we believe that organizations should at the very least, keep an eye on blockchain so that they can take advantage of opportunities when they present themselves.”This is a very exciting report. As mentioned, this indicates that companies will be inspiring large institutional investment in the near future. This is the investment that many think will push the cryptocurrency markets over the edge and will in turn encourage the markets the spike. Moreover, adoption of blockchain technology by large companies, will encourage rivals and smaller companies to do the same thing. If Deloittes findings are accurate, we could see some incredible changes take place within this industry in 12-months time.