PwC is out with a new report on blockchain, and there appears to be some good news. Here are the key findings:
- About 84% of companies are involved with the technology in some way.
- About 45% of companies believe that a lack of trust in the technology could cause a delay in adoption.
- About 1/3rd of companies consider China as a growing market leader.
- About 28% believe that system interoperability is the way to success
More About the Report
The global survey consisted of 600 respondents from 15 countries including China, India, Sweden, Africa, and America.
Only 14 percent of businesses are said to have no involvement in the blockchain. A total of 32% are working on developing a blockchain-based product while 15% are already live.
However, a small number – about 7% – has stopped at one of the stages and may not pursue it any further, most probably due to a lack of regulatory uncertainty, which also causes a lack of trust in the technology. There are also some intellectual property concerns coupled with possible compliant issues.
The technology is being appreciated in all corners with the finance industry appearing to be ahead in the race with an astounding 46%. Industrial products and manufacturing, as well as energy and utilities, are both at 12%, leaving quite a significant gap between them and the key industry leader. However, despite difficulties, other sectors such as healthcare, government and retail are also moving well towards the adaption of the technology, with 11%, 8% and 4% respectively.
Even though this percentage for the finance industry is high, it has suffered a significant drop compared to 2017. According to PWC, 82% of “reported blockchain use cases were in financial services in 2017.” This can be attributed to the growth of potential blockchain application in other industries, directly linked to the increase in awareness of the disruptiveness and innovative characteristics of this technology.
More Trust in China
According to the study, about 30% of respondents believe that China will dominate the industry in the next few years, with only 18% showing support for the U.S.
This is a bit surprising considering China appears to be confused regarding cryptos. However, it should be mentioned that the country has backed blockchain based products, and seems to be doing a good job of keeping crypto and blockchain apart.
Market Value to Hit a New High
The report predicts the market value of the industry to hit the $3 trillion mark by 2030. The survey also pointed out asset tokenization and ICOs as an essential part of the technology as ICOs bring a considerable amount of money to the industry and also help attract new players.
The report said: “It’s possible to imagine that 10% to 20% of global economic infrastructure will be running on blockchain-based systems by 2030.”
You have observed very interesting details! ps decent website.
Pretty nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!
hello there and thanks to your info ? I?ve definitely picked up something new from right here. I did alternatively experience a few technical issues the usage of this website, since I skilled to reload the website many times prior to I could get it to load correctly. I have been puzzling over if your hosting is OK? Now not that I am complaining, but slow loading cases occasions will sometimes impact your placement in google and can damage your quality rating if ads and ***********|advertising|advertising|advertising and *********** with Adwords. Anyway I am adding this RSS to my email and can look out for a lot more of your respective exciting content. Make sure you replace this again very soon..
Some really fantastic articles on this website, thanks for contribution. “Gratitude is merely the secret hope of further favors.” by La Rochefoucauld.
I think this is a real great post. Will read on…
I’m truly enjoying the design and layout of your blog. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a designer to create your theme? Outstanding work!
Thanks for your useful post. As time passes, I have been able to understand that the particular symptoms of mesothelioma are caused by your build up of fluid between the lining of the lung and the chest muscles cavity. The illness may start within the chest location and distribute to other body parts. Other symptoms of pleural mesothelioma include losing weight, severe inhaling and exhaling trouble, nausea, difficulty ingesting, and swelling of the neck and face areas. It ought to be noted that some people living with the disease will not experience almost any serious indications at all.
I used to be recommended this website by way of my cousin. I am now not positive whether this publish is written by way of him as no one else realize such designated approximately my problem. You are wonderful! Thank you!
Thanks for the guidelines shared using your blog. Yet another thing I would like to state is that losing weight is not about going on a dietary fad and trying to lose as much weight that you can in a couple of days. The most effective way in losing weight is by acquiring it slowly but surely and obeying some basic tips which can enable you to make the most out of your attempt to lose weight. You may know and be following some of these tips, yet reinforcing understanding never damages.
You certainly know how to bring a problem to light and make it important.