New KPMG Survey Shows Lack of Blockchain in Business, Cryptocurrency in Corporations

The use of cryptocurrency is still something that is new to many consumers, especially for advocates of the traditional financial system. Blockchain technology has even made plenty of advancements, but the fact remains that there’s still a long way to go.

A recent poll was conducted by KPMG with 450 respondents, as the company aimed to get a picture of how the rest of the financial world thinks of crypto and blockchain, according to reports from The Next Web.

In the survey, about 60% of the participating individuals expressed a willingness to use the technology to help with the automation of different processes. However, 67% of those respondents said that they were not involved in the technology at all right now, with 27% noting that they were not even sure if their organization was involved already.

As these respondents spoke about blockchain, they focused on multiple factors that they thought were responsible for holding back the adoption of blockchain technology as a widespread solution. About a third of the respondents expressed a lack of resources, while funding was to blame for 22% of the group.

Another 22% said that there was a lack of technological capability within their company to make adoption possible.

As The Next Web points out, the ability of blockchain to finally expand to other services rests on the assistance that can be offered to various organizations to reach better efficiency in their operations. However, without the understanding of what blockchain offers and the resources to implement it, adoption could be far away.

In January, the HackerRank’s 2019 Developer Skills report showed research that suggested that blockchain technology was likely to reach adoption in the real world in the next few years.

To read the full report, visit https://info.hackerrank.com/rs/487-WAY-049/images/HackerRank_2019-2018_Developer-Skills-Report.pdf.

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