A very positive sign: 39% of companies now have blockchain in production

[DoubleEdgeEX]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

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[joniboini]

Does not necessarily translate to 'crypto price go brr' though. It's no doubt becoming a thing. A project that I followed got more clients this year which instead of building their own chain, they use their chain instead to save cost and time. This business model is likely going to be a new trend in the future. If business decided to build their own blockchain anyway, pretty sure there won't be any fancy ICO or something like that, it's likely going to be a closed/private chain.

So yeah, exciting times for new tech to be adopted, but not a green light if you hope for continuous price pump.

[so98nn]

The survey revealed many firms are increasingly prioritizing blockchain technology and the potential of digital assets in the future.

May be it's just associated with the use of current blockchain technology so that these giants can implement its characteristic for their internal use. I don't see it's potential effect on "crypto currencies" if you are thinking that way. This is anyway public ledger and anyone can use its potential.

Considering the banking sectors and it's security which is always at highest stake may do such adoption.

Some of them might just be using it for added security of their data centers and robust use of irreversible content destruction.

It's not limited to transactions or money stuff but it overwhelms it's potential. So those companies who got surveyed could be actually versatile, such as, marketing firms, website hosting, e-commerce, banks, credit cards, data storage or clouds etc.

[Febo]

Deloitte reported blockchain adoption was more accepted in certain countries. For example, while 31% of respondents in the United States said they already had blockchain in production, this number was nearly double—59%—in China.


If you call blockchain a scam in China you can be trialled on court. So no wonder companies there take blockchain seriously. It is a directive from their government.

[omone1]

This is good and shows the potency of blockchain technology however, blockchain is not limited to the scope of Cryptocurrency as it cuts across many fields of profession.

[DoubleEdgeEX]

Does not necessarily translate to 'crypto price go brr' though. It's no doubt becoming a thing. A project that I followed got more clients this year which instead of building their own chain, they use their chain instead to save cost and time. This business model is likely going to be a new trend in the future. If business decided to build their own blockchain anyway, pretty sure there won't be any fancy ICO or something like that, it's likely going to be a closed/private chain.

So yeah, exciting times for new tech to be adopted, but not a green light if you hope for continuous price pump.

Sure, nobody will be able to trade tokens that are used for e. g. supply chain management or healthcare. It´s just a good sign imho that they start using the technology. The more use it, the higher the acceptance rate, the better the chances that even the most un-crypto human being is willing to try it.

And just to clarify, even though myself and my team work on an everything exchange doesn´t mean I´m one of those lucksters that hope for the big cashout when one random coin skyrockets. Hope, just as greed and fear,  is always a bad advisor.

[roberthays]

Great article. A lot of companies local to me are also testing with Blockchain technology. It's awesome to see the tech being considered by so many reputable companies.

[Kakmakr]

A positive sign for what?

1. An attempt to become more widely used than Bitcoin?
2. Trying to solve Bitcoin's so called flaws?
3. Being more cool, because they have their own ripoff version of the real Blockchain?

Every Blockchain technology out there, is competition for Bitcoin and we do not need more competition.... there are already 1000's of Alt coins out there.

Bitcoin has the strongest Blockchain out there, why would you not want to use that? How much hashing power are backing these Blockchains?

[hatshepsut93]

Every Blockchain technology out there, is competition for Bitcoin and we do not need more competition.... there are already 1000's of Alt coins out there.

Bitcoin has the strongest Blockchain out there, why would you not want to use that? How much hashing power are backing these Blockchains?

A blockchain is not a competitor to Bitcoin just because it's a blockchain. Bitcoin is a currency, so only altcoins that aim to be a currency are Bitcoin's true competitors. These blockchain that the survey talks about are just some centralized databases with a few nodes that put their data in blocks and hash it. It's not revolutionary, it's not game-changing, it's not interesting. Most if not all of these blockchains are just trials that will be killed when it will become clear that they don't improve anything.

We know from Stackoverflow's last survey that engineers don't believe in blockchain, which is far more important than executives playing with new ideas.

[dothebeats]

This does not translate anything to the positive perception on cryptocurrencies, I'm afraid. Companies integrating blockchain within their systems are probably going to use it for some other things and leaving bitcoin behind. Positive for them to use a newer tech that could potentially solve some of their problems but it's way outside of the scope for bitcoin. People might see blockchain in a newer and more positive light, but the fact remains that people will mostly see the bad for bitcoin until they research further about it. Most companies are just in it for what the tech could do, and there's nothing wrong with that as long as it gets newer things on the table for efficiency and security of things.

[gentlemand]

If I were a company I would let someone else waste their money figuring out 'blockchain' is of little use at present. If someone makes a wonderful discovery then I'd tap into it, but I wouldn't be holding my breath.

[suchmoon]

The headline number doesn't pass the smell test and upon further reading it appears to be utter tosh:

The survey polled a sample of 1,488 senior executives and practitioners in 14 countries (Brazil, Canada, China, Germany, Hong Kong, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, the United Arab Emirates, the United Kingdom, and the United States). Respondents had at least a broad understanding of blockchain, digital assets, and distributed ledger technology (DLT) and were familiar with and able to comment on their organizations’ blockchain and digital asset investment plans and perceptions, among other metrics.

In order to expand the diversity of our respondent pool in this year’s survey, we identified a group of 100 respondents who are specifically and directly engaged in blockchain technology development projects and also have received a minimum of US$3 million in venture funding in the past year. These 100 respondents took the same survey as the other respondents and are counted among the 1,488 overall respondents in the analysis

So it's not "39% of companies", it's 39% of companies that are involved with blockchain at least to the extent of whatever "broad understanding" means. Not only that, they also diluted the respondent pool ("diversity" LOL) by adding 100 respondents who had $3m in funding, which sounds to me like those are guaranteed to say that they have something in production (about 7% of all respondents).

[StonerStanley]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

39% of the surveyed companies so it's probably less than one percent..... unfortunately.

At the moment i doubt that even 1% of the companies that i see around me are involved in a blockchain service for the near futur.

[btc_angela]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

As much as we really wanted to hear this, and this is really a good news no doubt about it. However, this doesn't mean crypto adoption though, it's totally different. And remember that blockchain technology works very well for companies that plays a lot with their daily data, like supply chain and logistics. Those raw data can be translated to money for them. But for crypto to be adopted, it's not blockchain that is going to push it, but people thinking how crypto will be advantageous to them.

[davis196]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

I don't click on links that seems untrustworthy to me.Anyway,here are my two cents:
First,I think that this is a fake survey and fake news.39% of all companies in the world is an insane number and it's really hard for me to believe that 39% of all companies have implemented blockchain technology in one way or another.This would simply require an insane amount of qualified blockchain developers,probably hundreds of thousands.
Second,blockchain technology adoption doesn't mean cryptocurrency adoption.We all want the second type of adoption,so the crypto prices would eventually go up.

[Mauser]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

I don't click on links that seems untrustworthy to me.Anyway,here are my two cents:
First,I think that this is a fake survey and fake news.39% of all companies in the world is an insane number and it's really hard for me to believe that 39% of all companies have implemented blockchain technology in one way or another.This would simply require an insane amount of qualified blockchain developers,probably hundreds of thousands.
Second,blockchain technology adoption doesn't mean cryptocurrency adoption.We all want the second type of adoption,so the crypto prices would eventually go up.

How is Deloitte an untrustworthy link? It's one of the big 4 accounting firms. I am not scared that they are inclunding malware in their PDF reports.

Thanks for the news, it's always good to see more and more companies to invest in new technology. The growth in crypto currencies will continue as more and more people will use it.

But honestly, I wish the price of Bitcoins would fall again so I could buy more. During the pandemic the bitcoin price didn't really suffer that much. And entry levels to top up your BTC are still high.

[Cryptoheavy]

Intresting to see that overhyped point is also growing trought the year. Which companies participated in this survey?

[romeojasmin13]

Well, people finally realized that blockchain is more than the technology behind bitcoin.

[Leviathan.007]

The number of 39 percent could be checked more specified. I believe more than 50 percent of the companies in China and Indonesia are using blockchain technology or at lest they are planing to use this technology very soon. Apart from the companies using blockchain, I hope to see the governments using this technology for the presidential election in order to avoid the possible cheating specially in some middle east countries.
However, hopefully the blockchain technology will be used in the all companies from all over the world. Because, if you check the 39 percent number you will see the technology growth trend was highly ascending during the last years.

[el kaka22]

I always do not have any doubts on blockchain technology to be adopted by individuals and businesses. It got all the solutions to support a business and individual to make sure genuinity in all means. When we have stable business model for fortifying against possible all malpractices then we can focus on further innovations to grow business to new heights. This must be the core reason for the new level of adoption of blockchain technology and this adoption rate will grow rapidly when more corporate come to know about it.

Blockchain adoption may work toward spreading bitcoin adoption as well (but not in assured manner) because people may start think about adopting all related things when they find blockchain's versatility. Hence, we must understand that bitcoin adoption rate has nothing to do with blockchain adoptions as both are compete different from business point of view.

[CryptopreneurBrainboss]

It doesn't also translate to the adoption of cryptocurrency or bitcoin in be specific. The blockchain technology has evolved to the extent that it can be adoption without adopting bitcoin I cryptocurrency in general like what most early enthusiast thought. Ethereum has made it even very possible for the technology to be easily implemented in most field of life like the transport sector, Power sector etc.

Even before this report you speak off, it was clearly obvious that most big tech companies are developing something as from time to time we saw news of big tech companies carrying out research related to the technology or appointing previous workers of a blockchain project in their company. It's just a matter of time before the technology goes viral as all companies begin to accept/adopt it which will indirectly create awareness for rge cryptocurrencies.

[wozzek23]

Here the full "global blockchain" survey from Deloitte: https://www2.deloitte.com/content/dam/insights/us/articles/6608_2020-global-blockchain-survey/DI_CIR%202020%20global%20blockchain%20survey.pdf

If you don´t want to read the full thing, here is a nice summary: https://cointelegraph.com/news/deloitte-39-of-companies-worldwide-now-have-blockchain-in-production

The more use it, the better.

You do know that they are producing their own Blockchain and it has nothing to do with the current Blockchain or cryptocurrency as we know it right? So, there is no way that it’s going to have any kind of impact here, what most of these companies are doing is just business and they are not supporting cryptocurrency, they are just creating their own Blockchain that they might be marketing to people who needs it.

So, I don’t see anything to be excited about in this. The only thing we should be talking is more people adopting Bitcoin and investing in it, that’s when it is going to make sense. Even bitcoin runs on blockchain, the mass adoption of blockhain technology may not give any big impacts to bitcoin adopters. So, I wish similar to adoption rate of blockchain, bitcoin adoption as well must have in more rapid manner .

[lumeire]

This is good and shows the potency of blockchain technology however, blockchain is not limited to the scope of Cryptocurrency as it cuts across many fields of profession.

Cryptocurrency is just another use of block-chain technology and it can be utilised in so many ways beyond our imagination. In University certificates, degrees, in companies, banks, post offices, art museums, just name a business and there will be a way to integrate block-chain into it. So the block-chain is pioneering the future of the world economy and with the bright minds and ideas block-chain integration can reach to more people worldwide.

[Emitdama]

This doesn’t really make the price of cryptocurrencies to grow, though it does have its own effects as it will be creating more awareness on Blockchain, as there are big chances that people will ask questions or research about Blockchain that they would get to also know about Bitcoin, so that’s a plus. It will be creating awareness for both Blockchain and Bitcoin. When people see Bitcoin they might be interested in it and if they happen to invest money, that’s more growth.

the block-chain is pioneering the future of the world economy and with the bright minds and ideas block-chain integration can reach to more people worldwide.

It is proven that blockchain technology is accelerating business growth through innovative improvements on traditional business practices. We can expect adoption of blokchain technology slowly will lead to massive adoption of bitcoin in all business related sectors first and then its dependent sectors.

Currently top layer companies are into blockchain adoption but only for less than 10% business operations that may be due to blockchain integration has not been innovated in all end to end business process yet. When entire business process to be integrated along with blockchain technology we can expect big growth everywhere.