According to a Deloitte survey, 74% of large companies amongst seven countries see a “compelling business case” for blockchain technology, reported Coindesk on May 15.
The multinational “Big Four” company Deloitte conducted a survey in March and April and there were near 1000 respondents located in the U.S., China, Mexico, the U.K., France, Germany and Canada with minimum annual sales of $500 million.
Various industries were targeted with this survey. 23% came from the financial sector and 18 % came from media and telecommunications. Other industries that respond to the survey are technology, consumer product, and healthcare.
Linda Pawczuk, the head of Deloitte’s U.S. financial services blockchain group mentioned in a statement that the results of the survey demonstrate that “momentum is shifting from a focus on ‘blockchain tourism’ and exploring the technology’s potential to building practical business applications.”
Of the respondents who see a “compelling business case”, 34% of them expressed they are already working with a blockchain system and 41% of them said they were planning to use the technology in the next year.
39% of the respondents globally said that the blockchain technology is “overhyped” and 44% of them came from the U.S., which is 10% more than in 2016.
68% of the firms that responded to the survey believe that they can lose competitive advantage if they don’t adopt the blockchain technology.
52 percent of firms said they’re focusing on permissioned models, 44 percent on private models internal to their own companies and 44 percent on public models, when questioned for what firms mean by “blockchain”.