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Stack Overflow Research: Four Out Of Five Companies Around The World Are Not Using Blockchain

Research Study: “80% Of All Organizations Across The Globe Do-not Make Use Of Blockchain Technology”

Via a research piece released by Stack Overflow recently, the tech firm concluded that a large number of companies (operating across different sectors) were still not making use of blockchain based governance modules to streamline their day-to-day operations.

To elaborate further on the matter, the study took into account the opinions of ninety thousand developers from all over across the globe so as to “study developer work preferences as well as the tools utilized by them”.

Here’s What The Research Indicates:

(i) As per the responses of 48,175 developers who took part in the study, a whopping 80% of them worked for organizations that did not make use blockchain technology in any shape or form.

(ii) Of the remaining 20%, only 12.7% claimed to be in favor of using the technology for non-currency related applications.

(ii) Out of the companies using cryptocurrency-based products:

  • Only 2.1% of them made use of digital assets for processing monetary transactions
  • 1.3% made use of their very own digital tokens to streamline their internal processes.

Lastly, a paragraph in Stack Overflow’s aforementioned report reads as follows:

“Developers in India are the most likely to say their organizations are using blockchain technology.”

Final Take

In closing out this piece, it should be pointed out that more than 75% of the interviewed developers claimed that blockchain was indeed a useful technology that had the potential to transform a number of different industrial sectors across the globe.

Not only that, but the research study also highlighted the following points:

  • Most of the developers who were optimistic about blockchain were in their 20’s to early 30’s.
  • Over 25% of the interviewed individuals claimed that the technology was useful for immutable record keeping while 12.2% of them stated that it was useful for creating decentralized currencies.

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