Blockchain: 5 takeaways from the Deloitte report

Blockchain investment plans are solid. 40% of organizations surveyed plan to invest $ 5M or more in the next 12 months.

Deloitte has published the results of a investigation* global blockchain (or decentralized transaction management technology).

Executives of large companies and IT decision-makers were interviewed in February and March 2019 on the investment plans and the deployments undertaken.

Here are 5 of the main takeaways from this report:

1. Priority > In 2019, 53% of respondents (compared to 43% in 2018) consider blockchain as one of the five strategic priorities for their organization. 77% even believe that their organization would lose a competitive advantage if it did not adopt the technology.

2. Deployment > In practice, only 23% of organizations have actually deployed blockchain-supported projects.

3. Use case > The main use cases on which companies are working are: data validation (cited by 43% of respondents), data access and sharing (40%), identity protection (39%), payments (37%) and cryptocurrencies (36%).

4. Investment > In this context, 40% of decision makers surveyed say they are ready to invest $ 5 million or more in blockchain initiatives over the next 12 months. In contrast, 7% plan to spend less than $ 500,000 and 6% do not have a plan in this area for the coming months.

5. Risk > The five main obstacles most often cited are: implementation difficulties in a legacy IT environment (for 30% of respondents), regulatory issues (30%), potential security threats (29%), the lack of internal skills (28%) and, finally, a return on investment deemed uncertain (28%).

Business models

43% also think that the blockchain is overrated. Are regulatory uncertainties and cryptocurrency volatility holding back market ambitions?

The Deloitte firm is showing its optimism. According to the audit and advisory group, organizations today are less concerned with whether the technology will work than with the relevance of models and use cases.

*The survey (“Deloitte’s 2019 Global Blockchain Survey”) was conducted among 1,386 business leaders (+100 M $ CA). At the same time, Deloitte interviewed 31 managers and managers of blockchain startups.

(photo credit © Shutterstock)

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