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Deloitte Research: 39% of Companies Worldwide Use Blockchain

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Written by: FIMA Plus

The latest research from auditing giant Deloitte shows that nearly 40% of respondents from leading technology companies worldwide currently use blockchain in production – and almost 9 out of 10 believe that blockchain will become even more important in the next three years.

According to the results of Deloitte’s global blockchain survey titled 2020 Global Blockchain Survey, conducted from February 6 to March 3, 2020, 39% of 1,488 senior executives in 14 countries stated that they have already integrated blockchain into production in their companies – representing an increase of 16% compared to last year’s figures. However, this number rises to 41% when considering companies with over $100 million in revenue.

The survey was conducted in: Brazil, Canada, China, Germany, Hong Kong, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, the United Arab Emirates, the United Kingdom, and the USA, and included companies that have “at least a general understanding of blockchain, digital assets, and distributed ledger technology.”

Blockchain is becoming an increasing priority

The research showed that many companies are increasingly prioritizing blockchain technology and the potential of digital assets in the future.

On one hand, “Almost 89% of respondents believe that digital assets will be important to their industries in the next three years,” the research states. On the other hand, “the majority of respondents (53%) indicate that digital assets will be very important.”

Deloitte believes that these high percentages may be related to hiring practices. The auditing giant reported that 82% of respondents stated they would hire people “with experience and knowledge of blockchain technology” in the next 12 months. Almost the same percentage, 83%, of respondents said they would lose their competitive edge if they do not start adopting and integrating blockchain technology into their business.

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photo Deloitte

However, not all responses to blockchain innovation were positive. The research showed that 54% of respondents believe that too much attention is being unnecessarily given to blockchain, which is an increase from 43% of respondents who said the same in 2019 and 39% in 2018.

One country stands out

Deloitte reported that blockchain technology is more widely and better accepted in certain countries. For example, while 31% of respondents in the USA said they already use blockchain in production, nearly double that number of respondents in China (59%) answered affirmatively to the same question.

Digital assets are becoming increasingly popular in Asia. Indeed, 94% of respondents in China said they “strongly” or “somewhat” believe that digital assets will serve as an alternative or replacement for fiat money in the next 5-10 years.