Research: 84% of companies are implementing blockchain into their business processes

Verified
3 months ago
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According to a study by a consulting company PricewaterhouseCoopers (PwC), 84% of business representatives said they have already started to work with blockchain technology, and 62% announced the launch of their own blockchain-related initiatives. It is also reported that representatives of all well-known sectors of the economy are trying to transfer their business to the blockchain technology.

Almost a quarter of PwC respondents said they had no idea where to begin work with a blockchain business, 14% of business representatives complained about the lack of management mechanisms and interaction with the new structure, which pushed them away from the transition to blockchain.

About 50% of respondents named high expenses as one of the main reasons for the failure to implement distributed registry technology into work.

Companies are also considering the possibility of creating an alsos and consortium for the spread of technology and attracting new participants to business models based on blockchain.

As the authors of the research note, blockchain is not suitable for every company, and most of the ideas that business community representatives are trying to implement with the help of modern technology can be more effectively implemented without it. 54% of the survey participants were disappointed in the results of the use of the detachment with the efforts spent for its implementation.

Recently, Jamie Dimon, head of JPMorgan Chase, talked about plans to use blockchain technology in most of his projects to optimize the smart payment solutions of JPMorgan.