Trust In Blockchain’s Potential Has Increased By 10% Since 2018 In Deloitte Senior Executives

Deloitte conducted a survey between February 8 and March 4, 2019. The motive of this survey was to know about the attitudes and beliefs about the investment into the blockchain technology. Around 1386 senior executives participated in this survey from all over the world from countries such as Brazil, Canada, China, Germany, Hong Kong, Israel, Luxembourg, Singapore, Switzerland, United Arab Emirates, United Kingdom, and the United States, with companies that had more than 100 million U.S. Dollars in the revenue. The result revealed that about fifty-three percent of the participants of the survey think that the blockchain technology is a “critical priority.”

53 percent thought that the blockchain technology will be “critical top five strategic priority”, whereas, 29 percent think that yes, it will be important, but it still doesn’t make to the top five strategic priority list. Only 14 percent, on the other hand, think that the blockchain technology will be relevant but not as a strategic priority. The remaining 4 percent are unsure about it whereas the other 4 percent think it is irrelevant.

The blockchain technology has traveled a long way from being a technology with potential yet too new to be trusted fully, to the point where it has started to be looked like one of the “top five strategic priority.” Given the recent development of Deloitte joining hands with VeChain, this survey serves as a good opportunity to understand business psychology around the blockchain technology.

Last year, the percentage that showed faith in the blockchain technology was 10 percent lower. This survey brought several interesting insights about how business executive perceive the new age technology. Around 77 percent of the participants feel that the blockchain technology is highly important for maintaining the “competitive edge.” 56 percent of the participants perceive the blockchain technology as a disruption to their respective industries. A good percentage of 83 percent think that blockchain technology proposes a “compelling business case.” On the other hand, 86 percent of the participants showed trust in blockchain technology’s potential to gain “mainstream adoption.” There was a percentage of participants who think that blockchain technology is given undue importance and is “over- highlighted.”

More on VeChain:

The second Paris Meet up of VeChain will take place on the 15th of May this year. This will happen well in advance before Viva Tech starts. The meet up will take place at the Junior Stage, 5 Parvis Alan Turing, from 18:30 to 21:30- Paris time.

VeChain seems to be in the process of becoming truly a giant in the crypto industry. The recent partnership moves by VeChain give us a glimpse into the company’s potential reign. Lately, it has joined forces with companies such as PwC, Deloitte, Amazon Web Services, Haier, BMW and so many more. This recent move of the partnership between Deloitte and VeChain points at Deloitte’s migration from Ethereum platform to VeChain.

Last year, the auditing giant PricewaterhouseCoopers (PwC) also formed a business relationship with VeChain. At the press release, the company’s chairman- Raymund Chao said,

We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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