Survey: two-thirds of businesses intent on investing in blockchain solutions

Interest in blockchain technology is high among decision makers in business, according to a recent survey.

When it comes to blockchain, 64 percent of organizations surveyed in a new study view the technology as a current tech initiative, reveals software development firm Globant.

Researchers surveyed 679 senior-level decision makers in IT, marketing, and operations in the United States last year, and found that the majority of business leaders are still in the process of investigating blockchain. Of those, 42 percent are in the discovery phase and 28 percent have chosen a blockchain provider.

Growing interest in blockchain

The numbers show that interest in blockchain and distributed ledger technologies (DLT) is high. For instance, a full 71 percent of decision makers believe that blockchain implementation would boost customers’ confidence in an organization’s ability to safeguard their data.

Not only can blockchain technology decentralize and authenticate data for easier access and sharing, but it can also help businesses boost trust both internally and externally. The survey results confirm that companies now view blockchain as a valuable and accessible solution for a multitude of business needs.

Shifting toward adoption

Overall, business leaders still feel unprepared to make the most of blockchain and DLT, however. The biggest challenge impeding widespread adoption is a lack of specialized knowledge.

A recent survey by the Global Blockchain Business Council revealed that, despite growing interest, 63 percent of respondents believe senior business executives have a poor understanding of blockchain. Another 30 percent described senior executive understanding as “average,” and only 7 percent considered it to be “good.”

Fortunately, that’s where our expertise in blockchain solutions development can come in. Whether you’re a startup looking for some guidance or an established business hoping to take advantage of the benefits of distributed ledger technology, we’re here to help!

For a brief overview on why businesses should consider blockchain, see our previous post here. We look forward to embarking on a productive relationship to help you take the next step into the innovative world of blockchain.

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