One of the biggest name in global accounting, Deloitte, lately issued its annual blockchain survey, titled ‘Breaking Blockchain Open’, in which the company presents insights into the opinions and actions of established organizations and their top executives with regard to blockchain technology.
— Deloitte Technology (@DeloitteOnTech) August 27, 2018
The firm interviewed 1,053 top-level executives from organizations that averaged over 500 million in annual revenue. The executives were based in Canada, China, France, Germany, Mexico, United Kingdom, and the United States. The majority of the respondents came from the U.S. (284). Chinese respondents numbered 205 followed by the UK at 150, and Germany at 132.
Although the respondents identified as having an average to above average understanding of blockchain technology. Additionally, due to their top level status, the respondents were able to provide insightful views with regard to their organization's views on blockchain technology. They were also able to comment on the future plans of the company as they were privy to this kind of information.
The study found that 84% of businesses claim blockchain-based solutions to be better than the conventional technologies. However, 39% cites regulatory issues and 28% lack of understanding the barriers to implementing this technology.
Let us take a look at some of the multinational entities who have shown interest in blockchain technologies.
In conjunction with Bitwise Asset Management, Morgan Creek Digital has started a digital index fund. The fund will allow crypto exposure to authorized investors, pensioners, and wealthy individuals as stated by Anthony Pompliano, the Morgan Creek Digital partner:
“We’re fully prepared and feel we’ve built something that institutional investors will find attractive regardless of how the assets are categorized. Whether they’re securities or not.”
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security, and utility.”
With physically-backed futures, this gateway will facilitate the institutional investors to buy Bitcoin through its regulated market infrastructure. Furthermore, she mentioned in her “An evolving market – The need for trusted price formation” post, no leverage or margin will be allowed rather all the bitcoin contracts of Bakkt will be pre-funded or collateralized.
German firm Iconiq Holding is beginning a range of digital asset index funds that according to its managing partner, Maximilian Lautenschläger would bring new capital into the crypto market:
“Iconiq’s aim is to make ICOs and crypto investments accessible to institutional investors, family offices and retail investors. Only through such regulated vehicles can we open the doors for the trillions of capital from institutional markets to enter crypto.”
Besides, names like Goldman Sachs, Northern Trust and lately Bank of America got into crypto via custody route. It all started with Coinbase and its introduction of premium products and services targeted exclusively towards institutional investors. And now others are ready to further drive it forward.