Blockchain initiatives underway for 84% of businesses in PwC survey

By Ben Mouncer
Four out of five respondents in a new PricewaterhouseCoopers (PwC) executive survey have said that blockchain initiatives are active within their organi...

Four out of five respondents in a new PricewaterhouseCoopers (PwC) executive survey have said that blockchain initiatives are active within their organisations.

The 'Blockchain is here. What’s your next move?' survey, which included data from 600 executives in 15 countries and territories, revealed the high number of blockchain developments, with 15% having already incorporated the ledger technology into a fully-operational part of their business.

Almost a third (32%) have projects in development and a fifth (20%) are in research mode, while regionally the United States (29%), China (18%), Australia (7%) are perceived as the most advanced currently in developing blockchain projects.

See also:

"What business executives tell us is that no-one wants to be left behind by blockchain, even if at this early stage of its development, concerns on trust and regulation remain," comments Steve Davies, Blockchain Leader, PwC.

"A well-designed blockchain doesn’t just cut out intermediaries, it reduces costs, increases speed, reach, transparency and traceability for many business processes. The business case can be compelling, if organisations understand what their end game is in using the technology, and match that to their design."

The survey reflects the early dominance of financial services developments in blockchain with 46% identifying it as the leading sector currently and 41% in near term (3-5 years). Sectors identified by respondents with emerging potential within 3-5 years include energy and utilities (14%), healthcare (14%) and industrial manufacturing (12%).

It also identifies four key areas of focus when building blockchain platforms: the importance of making a business case, building an ecosystem, designing deliberately around what business users can see and do and navigating regulatory uncertainty.


Featured Articles

New study reveals the smartest cities in Europe

New research released by ProptechOS has revealed that London is leading the top 10 smart cities in Europe, followed by Amsterdam (2nd) and Berlin (3rd)

KPMG UK announces major alliance expansion with Google Cloud

The investment underpins the ongoing alliance to help UK clients digitally transform their business through Google Cloud’s leading technology

Kyndryl driving Stellantis’ IT infrastructure transformation

Stellantis is adopting Kyndryl Bridge to enable improved management of IT infrastructure and real-time insights across its technology environment

The cutting edge: Edge computing trends to watch in 2023

Cloud & Cybersecurity

Shadow APIs pose serious threat to fintechs, report finds

Cloud & Cybersecurity

IBM and NASA to research impact of climate change with AI

AI & Machine Learning