Big Four auditor Deloitte has produced a report on the adoption of blockchain technology among financial institutions and global businesses.
The report found that nearly 40% of respondents already have blockchain in production, while forecasts predict significant investment over the next 12 months.
Experts across the blockchain industry have shared their view on the report, which is so far being viewed as an absolute success with blockchain technology finally embedding itself into mainstream business.
“The Deloitte Report is yet another affirmation in the growing body of research that underlines industry adoption of blockchain technology and digital assets.” Said John Wu, President of AVA Labs.
“The substantial portion of respondents who already have blockchain in production in their organisation highlights the growing maturity, but there’s still substantial work to be done.
“As enterprises and institutions begin to consider how we will rebuild the global financial system following this pandemic, incremental progress is a luxury that we no longer have. Institutions and individuals need to be best equipped to manage financial risks, protect investments, and even grow our assets when the next crisis hits.
📝 @Deloitte: 39% of companies worldwide now have #blockchain in production
A survey by Deloitte shows blockchain is increasingly becoming a priority among companies with a broad understanding of it ✅https://t.co/7lT1rEmZ63— European Blockchain Convention (@EBlockchainCon) June 17, 2020
“Widespread adoption of blockchain technology is a significant stepping stone in building a new system robust enough to cope with the challenges that lie ahead, and will reward innovators that take action today. This dramatic and rapid evolution of market structure toward decentralization is rapidly leaving the “ifs,” and becoming a “when.””
Jackson Mueller, who is the Director of Policy and Government Relations at Securrency, noted how from a regulatory standpoint blockchain is making more and more progress.
“The marked increase in the number of regulatory jurisdictions interested in or currently implementing responsible regulatory frameworks supportive of digital asset solutions is a welcome development.” He said.
“There are at least 23 regulatory authorities involved in these discussions, according to a Cambridge Center for Alternative Finance study, and we expect more countries to follow in their footsteps in the near future.”
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.