Deloitte’s 2020 Global Blockchain Survey Results

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While Blockchain was once seen as a technology experiment, Blockchain now represents an agent of change that impacts entire organizations.

Deloitte survey polled a sample of 1,488 senior executives and practitioners in 14 countries and territories. (BrazilCanadaChinaGermanyIrelandIsraelMexicoSingaporeSouth AfricaSwitzerlandUnited Arab EmiratesUnited Kingdom, and the United States).

Deloitte’s “Global Blockchain Survey” revealed a compelling evolution of blockchain from an experimental, disruptive technology to a true strategic priority for organizations.

Survey respondents indicated increased sentiment; investments; and more strategic talent sourcing and requirements for blockchain initiatives.

Survey key findings:

  • 39% of global respondents have already incorporated blockchain into production
  • 55% percent of responding organizations view blockchain as a top strategic priority
  • 89% of those surveyed believe that digital assets will be “very” or “somewhat” important to their industries in the next three years
  • 82% of respondents are hiring staff with blockchain expertise or plan to do so within the next 12 months
  • 83% of respondents indicated their companies will lose competitive advantage if they don’t adopt blockchain
  • 70% call the pace of regulatory change for blockchain and digital asset solutions as “very” or “somewhat” fast.

Blockchain already is an integral and vital tool upon which new, cutting-edge solutions are being created.

Increased advances of large-scale blockchain initiatives are occurring including blockchain-based financial infrastructure to simplify global money movement and commerce, as well as distributed ledger technology for trade finance and blockchain-enabled track-and-trace platforms, among others.

The survey report also revealed increased blockchain initiatives in daily processes including title transfer and protection; patient data storage and retrieval; and more efficient voting or food sourcing tracking.

Quote: “While blockchain was once classified as a technology experiment, it now represents a true agent of change that is affecting the entire organization.”

“Like many disruptive technologies, it has evolved from a merely promising and potentially groundbreaking approach to a now integral solution to organizational innovation. This year’s survey suggests that blockchain is solidly entrenched in the strategic thinking of organizations across industries, sectors and applications.”

Linda Pawczuk, Principal, Global and US Consulting Leader for Blockchain and Digital Assets, Deloitte Consulting LLP.

Quote: “Our survey confirms what we see in the marketplace — a proliferation of digital assets used as a means of exchange, a store of value, digital representations of specific assets, or equity in a company,”

“Digital assets are now enabling enhanced commercialization models across industries and geographies.”

Rob Massey, Partner, Global and US Tax Leader for Blockchain and Digital Assets, Deloitte Tax LLP.

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