Deloitte’s 2019 Global Blockchain Survey
• Blockchain gets down to business
The blockchain story is beginning a new chapter, one in which the questions executives are asking are tougher, more granular, more grounded, and more pragmatic. The question for executives is no longer, “Will blockchain work?” but, “How can we make blockchain work for us?”
SINCE the first blockchain advocates began promoting the technology’s capabilities over a decade ago, leaders across industries have often seemed unsure what to do with it. But in 2019, something unmistakable appears to be happening. What has emerged is a shared recognition that blockchain is real—and that it can serve as a pragmatic solution to business problems across industries and use cases. This is not some far-flung vision held by long-standing believers in the technology. Even leaders wary of tech-based solutions have come to see the larger, transformational importance of the technology.
Though blockchain hasn’t reached its full potential, savvy executives surveyed for Deloitte’s 2019 global blockchain survey are confident about new and evolving use cases; they continue to see the technology as a connecting platform that can enable many business processes. Since our last survey,1 respondents report that overall corporate blockchain investment is growing across most sectors as new, practical applications gain traction.
Like young college graduates quickly adjusting their expectations after entering the workforce, executives have seen time and practical considerations refine and define their view of what is possible in using blockchain into what is plausible—and what is practical. What we’re seeing in 2019 is the continuing evolution of blockchain from a capable yet underdeveloped technology into a more refined and mature solution poised to deliver on its initial promise to disrupt.
The question for executives is no longer, “Will blockchain work?” but, “How can we make blockchain work for us?”
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