Global Blockchain Business Council (GBBC), a leading industry association for the blockchain technology ecosystem, conducted a survey of institutional investors recently, in which 63 percent of survey respondents were of the view that senior business executives have a poor to nil understanding of the blockchain tech.
In Dec. 2018 and Jan. 2019, PollRight, a market researcher, on behalf of GBBC interviewed 71 institutional investors, comprising of private equity, hedge funds and pension funds, of which 63 percent had the view that senior business executives lack the basic understanding of blockchain, 30 percent believed their understanding of the tech is pretty much average, and only a mere 7 percent considered that senior executives have a good grip on the blockchain tech.
Furthermore, what’s astounding is that a whopping 76 percent of survey respondents believed that the senior business executives at large corporations or firms lack the commitment towards the blockchain tech. Nonetheless, these respondents still expect the global blockchain expenditures to increase by 108 percent, by the end of 2019.
Further, 33 percent of survey respondents consider that two years from now, the financial services industry including the banking sector will see massive adoption of the blockchain tech. Additionally, the respondents also claim that digital identity and healthcare fields will be much influenced by the blockchain tech.