AxiomSL Survey: 21% US Companies Would Invest in Blockchain for Compliance Purposes

AxiomSL conducted a survey assessing interest among U.S. companies to invest in blockchain technology for compliance purposes. The survey found that 21 percent of bosses in companies were interested in the endeavor, a significant increase from last year’s 8 percent.

The platform behind the survey is a compliance reporting tool specialist that often surveys companies in the banking and financial sector and it conducted the survey at people attending industry events in June. Although the platform surveyed a small sector of the population, those interested has certainly increased and further, many of the individuals who participated in the survey were their company’s decision makers when it comes to adopting such technology.

The current mechanism for compliance assessment is data analytics. Currently, 87 percent of American respondents preferred analytics. Further, about 54 percent of American executives were open to investing funds in artificial intelligence and machine learning, a figure which increased from last year’s 27 percent.

Alex Tsigutkin, the CEO and Founder of AxiomSL stated that company executives are currently faced with three challenges: velocity, veracity, and volume.

According to him, innovation is one of the best methods to address such issues. It is also important to adapt to changes in regulation and monitoring by continuing to innovate. Those who practice innovation tend to notice more efficiency when it comes to executing larger sets of date, which ensures traceability of information and flexibility for information structures. With an environment open to development, firms can harness their full potential and expertise in their industries.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide