Public Blockchain Technologies, Including Bitcoin (BTC) And Ethereum (ETH), Adopted By 44% Of The Entrepreneurs, According To Deloitte

Deloitte, one of the most recognized consulting firms, has published the results of its latest global surveys on the blockchain technology, data that confirm that 44% of entrepreneurs have begun to incorporate public blockchain models, including those of Bitcoin (BTC) and Ethereum (ETH), to develop their services, displacing the dominance of private blockchains in the business sector.

The document, directed and written by Linda Pawczuk, Rob Massey, and David Schatsky, compiles the opinions of a total of 1,053 entrepreneurs from China, Germany, the United Kingdom, Canada, the United States, France, and Mexico.

More entrepreneurs focused on public blockchain technologies

The survey yielded information relevant to the adoption of blockchain technology at the enterprise level, highlighting among it the entrepreneurs’ vision regarding Distributed Ledger Technology (DLT) in the long-term market. For example, about the blockchain model that generates more significant attention to companies to develop activities, 52% of firms focused on authorized blockchains stand out, that is to say, that they require a permit to access.

Private blockchains, with one or two nodes and coordinated by companies, continue to play a leading role with 44% of entrepreneurs focused on developing services with this model.

However, the surprise was given by the public blockchain technologies, including those of Bitcoin (BTC) and Ethereum (ETH), among others, which also have 44% of the interviewees interested in focusing their activities on their model.

Blockchain doesn’t really do anything unless it is paired with a solid use case where it can serve as a kind of Trust-as-a-Service (TaaS) for ecosystem participants. In short, it is more an enabler of business models than a technology. Understanding this is key to discerning the difference in how digital enterprise (traditional) organizations view blockchain compared to digital enterprises.

Deloitte

Respondents’ answers regarding the future of blockchain technology also stand out

84% of entrepreneurs believe that, in the future, blockchain could become a highly scalable technology adopted by a large part of the population, while 77% think that it will serve to optimize value chains.

In line with this perspective, 69% of entrepreneurs plan to have blockchain technology as a replacement for the company’s current records system, while 59% believe that Distributed Ledger Technology (DLT) will have a high impact on the way the industry works.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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