Cryptocurrency has been progressively advancing in the traditional finance world, but it has come with many naysayers. However, the use of blockchain technology apart from crypto assets is picking up the pace, as major investors believe that this is the next big opportunity for public companies. Global Blockchain Business Council recently conducted a survey to see exactly what hedge funds and other institutional financiers thought of the impending impact of blockchain technology. The GBBC is a lobby for blockchain that aims to make this technology more widespread amongst businesses and business leaders through innovations and education.

One of the most notable statistics discovered in the research is a prediction that a quarter of all surveyed institutional investors share – that public firms would need to outline blockchain technology plans in the next few years. The outlines would go along with their earnings reports and other disclosures. An even higher percentage – 38% – believe that it will be in the next five years instead.

PollRight, a polling company that was contracted by GBBC, was deployed at the World Economic Forum, which was recently held in Davos. Of the 71 institutional investors surveyed, they discovered that many of them believed that blockchain was potentially disruptive. About 40% believed that it is one of the most transformative technological breakthroughs since the launch of the internet for the public. However, 34% disagreed.

About one-third think that boardrooms will soon integrate blockchain technology, with 31% agreeing that public companies will soon have to develop a position as Head of Blockchain on those boards in the next three to five years.

Now, the WEF is reconvening as the second day of the Davos summit commences. The main theme is globalization, but blockchain’s current role in the industry has been a point of discussion. Sheila Warren, the head of the blockchain for WEF, commented that their focus is primarily on bringing these blockchain projects together to figure out a solution.

Several blockchain companies have introduced heads of the blockchain, though not all of these positions are executives to the various businesses. Distributed ledger technology already has become substantial enough for JPMorgan and UBS to form whole teams around them. However, IBM has decided to take their own path as they collaborate with Maersk for a logistics project. Despite blockchain technology beginning with cryptocurrency, almost none of the solutions actually involve the use of crypto assets.

Chairman Glenn Hutchins at North Island commented,

“I am much less interested in investing around bitcoin as a currency unit or a currency equivalent, or even the blockchain as an accounting ledger. I am thinking much more about the protocols. In other words, what is the underlying protocol going to do as a consequence of which, which tokens are valuable or not.”

CEO Sandra Ro of GBBC noted that interest that investors have shown in blockchain’s potential shows how the public is moving away from the traditional and long-standing business models that have been around. Ro continued, saying,

“Increasingly, the winning organizations of the future will be those that have a clear and comprehensive strategy for blockchain and those that are committed to implementing and using it to transform their organizations. It is perhaps not surprising that investors will soon want to know what companies are doing in this area, and that they have confidence in the executives chosen to implement the programmes.”

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