A report published by Deloitte Center for Technology, Media & Telecommunications on August 28th reveal that about 40 percent of executives in the telecom, media, and technology (TMT) space want to invest in blockchain research. The findings are only part of a wider look at how blockchain can be applied to these sectors.
Deloitte researchers surveyed 1,053 executives in seven countries, with 180 TMT firms joining in. The survey finds that a whopping 84 percent of respondents “believe that blockchain will broadly scale and reach mainstream adoption.”
Meanwhile, 59 percent think blockchain could be disruptive to their business, while 29 percent have already joined a blockchain consortium.
Deloitte also reports that interest in blockchain has grown. The firm predicted that blockchain firms would go up in profitability, with revenues going up from $340 million in 2017 to as much as $2.3 billion by the year 2021.
The report also includes data points that highlight the interest on the financing side. In the first half of 2018 alone, venture capitalists have funded blockchain startups, bringing in $1.3 Billion.
Deloitte’s report also shows that developers are also looking into blockchain tech, with the report saying that “since 2009, the number of blockchain projects on the open-source development platform GitHub has grown significantly.”
Interested in learning more about how blockchain technology is disrupting the current systems? Check these other articles here on our cryptocurrency news site.