Deloitte: Tech and Telecom Execs plan to invest millions in Blockchain


A new survey by Deloitte found that 40% of Telecom, Media and Technology (TMT) executives want to invest millions in blockchain research over the course of next year.

Published Tuesday morning, the results – included in a report by Deloitte's Technology, Media and Telecommunications Center – are part of a broader look at how technology could be applied to those business sectors.

To this end, the researchers behind the report interviewed 1,053 executives in seven countries, including 180 from TMT companies. They found that 84% of all respondents "believe that the blockchain will scale and reach mainstream adoption".

Approximately 59% say they believe that the blockchain can destroy their specific sectors, and 29% of all respondents have "already joined a blockchain consortium" ", according to the report.

39. The general interest for the blockchain has grown, according to Deloitte's findings.The company has predicted that the revenue of the blockchain companies would increase from $ 340 million in 2017 to $ 2.3 billion by 2021.

Deloitte's report included other data points highlighting the interest on the financial side of things.Only in the first six months of 2018, venture capitalists financed startup blockchain amounting to $ 1.3 billion.

Developers are also increasingly examining the technology, according to the report, stating that "since 2009, the number of blockchain projects on the GitHub open source development platform has grown significantly. "

In 2016, developers produced 27,000 new projects, according to Deloitte.

Image of Deloitte via Lester Balajadia / Shutterstock

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