A recent KMPG survey which polled 740 tech industry leaders in 12 countries suggests that attitudes towards adopting blockchain in business are changing. Now in its seventh season, the latest KMPT Technology Industry Innovation Survey showed more bullish responses from the previous year - with the percentage of respondents considering it "very likely" that blockchain would change the way they do business in the next 3 years up from 30% in 2018 to 41% in 2019.
Respondents to the survey viewed Internet of Things processes (such as tracking software upgrades, product refills and warranties) as the most promising area for blockchain disruption in the next tree years, with trading platforms, ledger identity authentications and smart contracts in payments insurance and identify confirmation closely following.
Whilst global leaders felt the top benefit of adopting blockchain technology was improved business efficiencies the biggest challenge was considered to be unproven business case. This shows that even though blockchain is catching on in business, given its complexities and issues such as high running costs, it won't always be the best technological solution for driving efficiencies and cost reductions and a proper use case should always be established.
In it's a recent survey of global leaders, KPMG reported that 48% of respondents believe it is highly likely that blockchain will change the way their companies do business over the next three years, and 41% stated their company intends to implement blockchain technology during the next three years.