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Survey Finds Blockchain To Transform Business In The Next Three Years

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Survey_Finds-Blockchain-To-Transform-Business-In-The-Next-Three-Years Survey Finds Blockchain To Transform Business In The Next Three YearsAccording to a recent study by KPMG, 48 percent of C-suite executives considered that in the next three years, Blockchain is likely to transform the way they do business, while 27 percent has reported that technology will not affect their business at all. Surveyed over 740 global tech entrepreneurs from 12 countries, in which 66 percent of respondents were C-level executives, KPMG has conducted its Technology Industry Innovation Survey for the seventh time from December 2018 to January 2019.

When comes to the possibility of deploying Blockchain in their companies, the study found 41 percent of respondents reported that they are likely to utilize the technology. Other than that, 31 percent did not respond a straight answer, while 28 percent said they have not likely to apply Blockchain technology. With 27 percent of executives, the study report illustrated that the Internet of Things (IoT) will be one of the greatest Blockchain disruptors over the next three years. While, trading for 22 percent, reduced cyber risk for 20 percent and contracts for 18, will be one of the Blockchain disruptors in the same timeframe. As technology has several advantages and disadvantages, 23 percent of respondents deemed that Blockchain supports to enhance business efficiency, while a lack of proven business cases is the biggest challenge simultaneously.

On the same context, a similar study from the Global Blockchain Business Council (GBBC) has highlighted that 40 percent of institutional investors considered the Blockchain technology to be the most significant breakthrough since the evolution of the internet. Despite, just under a third of them reported that their businesses would need to find out the chief of Blockchain on their boards in the next five years.