• Days
  • Hours
  • Mins
  • Secs
  • Mon, 16 Sep 2019, 02:02 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Trust and regulatory uncertainty biggest hurdles to blockchain adoption: PwC Survey

Tue, 28 Aug 2018, 06:32 am UTC

In a recent survey, PwC has found trust and regulatory uncertainty as the biggest obstacles to blockchain adoption.

The new research, “Blockchain is here. What’s your next move?” surveyed 600 executives in 15 countries and territories, on blockchain development and views on the technology’s potential.

Here are some of the key takeaways from the report:

  • 84% of respondents said that blockchain initiatives underway. A quarter of executives said that a blockchain implementation pilot is in progress (10%) or fully live (15%). 32% respondents said that blockchain projects are currently in development at their organizations, while a fifth said it is in research mode.
  • 14% had no activity in place and 7% have paused their development. One in three of those respondents who reported little or no involvement with blockchain cited the reason for a lack of progress as cost (31%), uncertainty over where to start (24%) and governance issues (14%).
  • Of the 15% of survey respondents who already have live applications, 88% were either leaders or active members of a blockchain consortium.
  • Respondents believe the US (29%), China (18%), Australia (7%) to be leading in developing blockchain projects. However, they expect China to overtake the US in this area within three to five years.
  • 46% identify financial services are the leading sector in blockchain developments. Other sectors with emerging potential within 3-5 years include energy and utilities (14%), healthcare (14%) and industrial manufacturing (12%).
  • 45% identified trust as blocker to blockchain adoption, while 48% believe it is regulatory uncertainty.

“Blockchain by its very definition should engender trust. But in reality, companies confront trust issue at nearly every turn. Failing to state a clear business case from the outset leads to projects stalling,” Steve Davies, Blockchain Leader, PwC, said. “Businesses need to put more effort into building into their design how they can tackle trust and regulatory concerns.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,384.70 (+0.36%)
  • Ethereum (ETH) $193.80 (+2.97%)
  • XRP (XRP) $0.263300 (+0.63%)
  • Bitcoin Cash (BCH) $307.51 (+0.60%)
  • Litecoin (LTC) $71.87 (+1.36%)
  • Bitcoin (BTC) $10,384.70 (+0.36%)
Sep 13, 2019 (Friday)
11:12
Libra Association head confident about crypto launch in H2 2020
10:42
Blockchain industry welcomes Mastercard-R3 collaboration, but skeptical about the future of private networks
09:52
tZERO to bring blockchain to film financing via new partnership
09:11
France mulls blocking Facebook's Libra project on European soil as FINMA chief weighs pros and cons of the cryptocurrency
07:26
Thailand's PTT, Energy Web Foundation to develop blockchain renewable energy marketplace
07:17
Russia’s Alfa-Bank launches liquidity management service on Waves Blockchain
06:40
Zelle co-founder Mike Kennedy replaces Adam Ludwin as CEO of Interstellar
06:34
Crypto Technicals: XMR/USD recovery lacks traction, price action capped below 21-EMA (75.86)
05:56
Crypto Technicals: BTC/USD trades range-bound, no clear directional bias
05:03
PundiX to launch a fully blockchain-powered phone Blok on Blok (BOB)
04:54
Cryptokitties maker Dapper Labs secures $11.2M to develop blockchain Flow, scores deals from Warner Music, Ubisoft
04:48
Crypto exchange Huobi likely to attempt backdoor IPO in Hong Kong
03:49
Binance's NYDFS-approved stablecoin BUSD is now live on Paxos, to be listed on Binance next week
03:33
Deutsche Telekom's T-Labs launches blockchain e-mobility pilot 'Xride'
Sep 12, 2019 (Thursday)
12:24
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:13
Binance Futures to go live on September 13
11:43
Santander issues $20M bond using Ethereum blockchain
08:55
Binance US to open user registration next week
07:38
Marshall Islands to launch a pre-sale for its blockchain-based national cryptocurrency
06:38
United Kingdom leads with most number of registered cryptocurrency exchanges: Study
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft