Does the Blockchain pendulum go back to the enterprise? A new survey by Deloitte suggests this

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Giulia Marchi / Bloomberg

The controversy back and forth between open public blockchain and blockchain and closed distributed registers has been raging since then" blockchain, not bitcoin " it became something around 2015.

The consortium systems gained momentum in 2015 and 2016 when companies of all sizes began to dedicate resources to the study of how technology could integrate or revise existing business processes, but the initial boom in the 2017 currencies has moved the interest to the kingdom without permission.

Now, in the third quarter of 2018, with cryptic markets in disorder and a preponderance of ICO companies that have not yet provided the applications for which they have apparently collected money, the soil is fertile for a momentum back to the side of the enterprise.

A recent blockchain survey & nbs p; published by Deloitte, the consulting firm, seems to support this line of thought. [19659003] The results of his survey of more than 1,000 corporate executives in seven countries bring home the points that what is happening on the surface in cryptographic markets is not an accusation of the underlying technology, and that the interest blockchain continues to grow within the legacy institutions. & nbsp;

Individuals surveyed were senior executives of companies that generate over $ 500 million in annual revenue that both have knowledge of blockchain technology and blockchain investment plans of their organizations.

While 39% of respondents estimated that the blockchain is "overhyped", 74% note that their organizations see a "convincing business case" for technology and 34% indicate that their company is currently performing development of blockchain.

In addition, 43% of respondents said that the exploration and development of the blockchain is one of the five strategic priorities of its organization, with another 29% identifying it as a strategic priority of a lower level.

29% noted that their organization is already a participant in a blockchain consortium, such as R3 or Hyperledger, & nbsp; together with the competitors. Another 45% indicated that they are likely to join soon one and 13% said they would consider creating one.

A full 78% said that their company is able to "lose the competitive edge" if it does not eventually adopt the blockchain in any way.

Indications are also strong that many in the executive community consider blockchain a revolutionary technological innovation and not just a specialized database tool to streamline existing business processes.

While 32% of respondents cited "higher speed" and 16% noted "lower costs" as the main advantages of the blockchain, 28% said that "the new business models" are the key turning point.

"This is a business model to change where companies need to focus on something more than a solid demonstration of implementation," the report emphasizes, continuing:

"Because blockchain, if properly implemented, should fundamentally change the way where a company operates, affects the entire organization, creating new tax and cybernetic implications along with a variety of governance and regulatory issues that need to be addressed. "

However, a key impediment remains the scarcity of real-world use cases that can be shown to compensate for the hype that is spread in crypts and blockchain echo rooms and spilling into public consciousness.

"The problem, say the interviewees, is that for all the talk about the promise of blockchain, there are very few cases of active use that they can currently employ to advance their beliefs," says the report. "As a result, a certain" blockchain fatigue "is beginning to creep into those who feel that its potential has been in excess of communication, while its real advantages remain elusive."

While each organization has its respective priorities and risk profile In the end, Deloitte concludes that the only wrong approach to blockchain is to completely ignore it:

"In short, the only real mistake that we believe organizations can do about the blockchain is now doing nothing. "

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The conflict between open blocs, public blockchains and blockchains and closed and allowed distributed registries has been infuriated since "blockchain, not bitcoin" became something around 2015.

The consortium systems gained momentum in 2015 and 2016, when companies of all sizes began to devote resources to the study of how technology could integrate or revise existing business processes, but the initial boom in 2017 offers moved the interest to the realm without permission .

Now, in the third quarter of 2018, with disordered encrypted markets and a preponderance of ICO companies that have not yet provided the applications for which they have apparently collected money, the land is fertile for a return of momentum towards the future. ; company.

A recent blockchain inquiry published by Deloitte, the consulting firm, seems to support this line of thought.

The results of his survey conducted on more than 1,000 business men in seven countries bring home the points that what is happening on the surface in the encrypted markets is not an accusation of basic technology, and that the interest in blockchain continues to grow within the heritage institutions.

Individuals surveyed were executives of companies that generate more than $ 500 million in annual revenue that both have knowledge of blockchain technology and blockchain investment plans of their organizations.

While 39% of respondents estimated that the blockchain is "overhyped", 74% note that their organizations see a "compelling business case" for technology and 34% indicate that their company is currently undertaking the development of blockchain. [19659003Thousands43%ofrespondentsdiscoveredthatheardevelopmentofcontrolledwithinaccordioncategoryandproducturingprofessionalcomponents29%thatidentifiesasstrategicstheirecontrolspecialist

29% noted that their organization is already a participant in a blockchain consortium, such as R3 or Hyperledger, along with competitors, another 45% indicated that it is probable that they will soon join one and 13% said they would consider one of their own.

A full 78% said that their company is able to "lose the competitive edge" if it does not adopt the blockchain in any way.

Indications a It is also strong that many in the executive community consider blockchain a revolutionary technological innovation and not just a specialized database tool to streamline existing business processes.

While 32% of respondents cited "higher speed" and 16% noted "lower costs" as the main advantages of the blockchain, 28% said that "the new business models" are the key turning point.

"This is a business model to change where companies need to focus on something more than a solid demonstration of implementation," the report emphasizes, continuing:

"Because blockchain, if properly implemented, should fundamentally change the way where a company operates, affects the entire organization, creating new tax and cybernetic implications along with a variety of governance and regulatory issues that need to be addressed. "

However, a key impediment remains the scarcity of real-world use cases that can be shown to compensate for the hype that is spread in crypts and blockchain echo rooms and spilling into public consciousness.

"The problem, say the interviewees, is that for all the talk about the promise of blockchain, there are very few cases of active use that they can currently employ to advance their beliefs," says the report. "As a result, a certain" blockchain fatigue "is beginning to creep into those who feel that its potential has been in excess of communication, while its real advantages remain elusive."

While each organization has its respective priorities and risk profile In the end, Deloitte concludes that the only wrong approach to blockchain is to completely ignore it:

"In short, the only real mistake that we believe organizations can do about the blockchain now is doing nothing. "

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