Deloitte’s 2018 Blockchain Survey Says Majority Executives are ‘DLT Experts'

Deloitte Survey Establishes That Most Company Executives Are Blockchain Proficient

After the unexpected soaring of cryptocurrency value at the end of last year, the popularity of blockchain technology has increased significantly. To ascertain the extent of this fame, Deloitte conducted a research that aimed to establish how various executives gauge themselves regarding the knowledge of distributed ledger technology.

As per the Deloitte’s research, 70% of the participants perceives themselves as blockchain experts. The survey involved over a thousand bosses of companies that make $500 million yearly in various countries, including the US, the UK, Germany, Mexico, China, Canada, and France. Despite being emergent, it appears that most executives of firms in the manufacturing and service delivery industries are proficient in blockchain technology.

Most of the respondents concurred that the swiftness of blockchain transactions is the most outstanding advantage of the technology. This was followed closely by the disruptive power of blockchain, which many executives also lauded.

Security, however, was mentioned by a considerably lower number of the survey participants. Other factors such as transparency, inalterability and verifiability were surprisingly overlooked by most of the respondents, as they were not entirely a challenge experienced on the current systems.

According to YourBTCC founder, Bobby Lee, most people with simple digital ledgers are wrongfully referring to them as blockchains. He attributed this misconception to the misunderstanding of the technology’s basics, mainly because it was launched only a decade ago.

To this end, Bobby stated that a real blockchain must be both publicly and independently verifiable, as well as accept the input from all participants.

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