Deloitte Survey Indicated Three Quarters Of Large Companies See Blockchain As Essential

Deloitte Survey Sees Blockchain as Essential

In a survey conducted by Deloitte, one of the “Big Four” accounting companies engaging in audit, tax, consulting, enterprise risk and financial advisory services, 74 percent of the 1,000 respondent companies see blockchain technology as a “compelling business case”. The survey was presented at CoinDesk’s Consensus event in NYC.

These are large companies across seven countries with annual sales of at least $500 million in the U.S., China, Mexico, the U.K., France, Germany, and Canada. The group was made up of firms from varied industries. The most respondents from a single industry at 23 percent was financial services. Technology, media, and telecommunications came next at 18 percent. Consumer products and healthcare companies also responded to the survey.

Linda Pawczuk, head of Deloitte’s U.S. financial services blockchain group, stated the survey demonstrated that the focus has moved from finding out blockchain’s potential to developing practical business applications with the new technology.

Half of the respondents who said blockchain is a “compelling case” stated they already have some form of blockchain integrated into their systems. Almost all of them declared plans to launch a blockchain application in a couple of years.

There are those, however, who is not a fan of the technology. Thirty-nine percent said blockchain is “overhyped,” almost half of them in the U.S.

Of the total firms surveyed, sixty-eight percent are afraid they will lag behind in competition if they don’t embrace the blockchain technology.

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