84% of Companies Experimenting With Blockchain

84% of Companies Experimenting With Blockchain
фото показано с : cryptobriefing.com

2018-9-4 16:54

84% of companies are ‘actively involved’ in blockchain systems development, according to PwC’s 2018 Global Blockchain Survey. Another study by Netscribes has predicted annual growth of 42.8% and $13.96 billion in annual revenues by 2022.

“Everyone is talking about blockchain, and no one wants to be left behind,” said PwC.

Blockchain technology, along with AI, is one of the breakout technologies in recent times and we’re now starting to see mass adoption. The blockchain’s fortunes were intertwined with cryptocurrencies, but now the two are starting to separate and the blockchain could have a far more lasting impact than any one token.

The Benefits of Blockchain

Increased security, speed, automation through smart contracts and the tamper-proof nature of the distributed ledger means it offers a number of major benefits compared to other systems. That has attracted the financial, healthcare, legal, automotive, energy, media, retail and supply chain management industries.

They are just a few of the sectors waking up to the potential of the blockchain and the commercial potential is immense. Eventually, the combination of blockchain and Artificial Intelligence will change the world and could provide everything from the framework for self-driving cars in New York to basic banking services in sub-Saharan Africa.

As with all new technology, there’s a long way to go between developing the systems and actually putting them into action. PwC highlights the trust issue that goes with such a major commitment as one of the major roadblocks facing the blockchain.

“In reality, companies confront trust issues at nearly every turn,” PwC said. “As with any emerging technology, challenges and doubts exist around blockchain’s reliability, speed, security and scalability.”

The technology itself should sweep those doubts aside in the end. The blockchain is clean, simple and transparent. That’s the point of a distributed ledger. So, these lingering trust issues won’t hold the blockchain back.

Will Blockchain Play Nice With Legacy Systems?

Integration could be another matter, as major corporations will have to roll out this new technology in stages. There will be teething troubles and this will be a major adjustment, but the benefits inevitably outweigh the costs.

We are set for a second goldrush, but this won’t be bitcoin billionaires or dorm room crypto miners. This will be the commercialization of the blockchain and it will take place in Fortune 500 boardrooms, banks and government buildings.

Nations Moving to the Blockchain

Estonia, Dubai and Australia have picked up the torch and are busy moving government records and bill payment systems to the blockchain. Dubai is keen to have the land registry on the tamper-proof blockchain, while Estonians can already vote on their smartphones.

Big business has been slow to catch on, but the momentum is building. Facebook recently revealed it was working on blockchain systems and may well reveal its own cryptocurrency before long, despite its recent denial that it was working with Stellar Lumen on its own token.

Not everybody shares PwC and Netscribes’ enthusiasm for the blockchain. Another study by Cowen has suggested that these figures are optimistic and that it will take 5.9 years to achieve mass adoption of the blockchain.

Considering the coverage, the interest and the changing attitudes to the blockchain technology, the positive projections look more realistic.

 

The author is not currently invested in digital assets.

 

The post 84% of Companies Experimenting With Blockchain appeared first on Crypto Briefing.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.7723 (-100%)

blockchain companies pwc annual experimenting wants left

blockchain companies → Результатов: 126


BiKi.com Featured in Forbes Top 10 Blockchain Companies in 2019

8th July, Singapore, Singapore – BiKi. com, while still a relatively new cryptocurrency exchange, managed to emerge tops on the Forbes Top 10 listing of blockchain companies to watch in 2019. The highly sought-after listing included 10 blockchain companies from all over the world that have made significant contributions to blockchain becoming more accessible, prominent and […] The post BiKi.

2019-7-8 11:23


To Support Growth of Crypto Space, Chinese City Offers Rent Subsidies for Blockchain Companies

The blockchain industry is a growing market, and there are many regions that are hoping to become a big part of the revenue it comes with. Fuzhou, a city in China, has decided to provide rent support for blockchain businesses, hoping to bring more of these companies into their economy, according to reports from People’s […]

2019-6-12 03:12


Increasing Blockchain Dev Salaries May Come From Demand, Not Higher Crypto Activities

According to a recent survey published by Janco Associates blockchain developers have encountered a salary increase for their work and services rendered to companies and technology firms. As the blockchain industry grows and there are more companies in the space, the demand for blockchain developers increased. In the last six months, the annual pay for […]

2019-1-16 19:45


Фото:

Suggested Regulations Could Create Major Changes in Canadian Crypt Businesses

The Canadian crypto business community is still assessing the new proposed regulations but a number of experts have told Bitcoin Magazine that the impact on the community will be “massive” and “significant” and may result in a shake-up and consolidation of companies, including blockchain companies currently in the space. The language used could mean a

2018-6-13 23:02


Фото:

Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses

Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.

2018-6-13 20:24