In a new report published by PwC, 84 percent of executives have stated that their companies are “actively involved” with this new technology. The rationale is that despite not knowing the future applications of this new technology, no one wants to be left behind. The survey conducted included 600 executives from 15 territories. This new distributive ledge technology has potential applications in product distribution, finance, trucking, medicine, real estate, law, engineering, as well as energy and even election ballots. Advocates suggest that this system will be faster and more secure than current systems. Major companies like Amazon, Microsoft, and Facebook are exploring uses for blockchain. IBM, JP Morgan, and HSBC are also studying future applications on blockchain.
The research firm Cowen estimated that it will take 5.9 years for blockchain to gain widespread adoption. One hurdle has been the wide market usage of retail outlets. Recently, Startbucks announced that it was forming partnerships to allow cryptocurrencies to be used to help facilitate transactions in its stores. We at Classiarius strongly believe that the future firms have not been discovered in the crypto and blockchain world – yet. In fact, 2017 and 2018 are much like the 1994 and 1995 world of the internet. It is in its infancy.
So this 84 percent means people are ready to participate in the cryptocurrency and blockchain world as regulators take control.