Blockchain Still Misunderstood By Many

About 64% of organizations consider blockchain a tech initiative, but 46% of executives at these organizations feel unprepared to effectively use the technology,

That's according to Globant’s 2019 Blockchain Technology Business Guide, released this week. The findings are based on a survey of about 679 U.S. senior-level decision makers. 

The survey was conducted online during the first quarter of 2018. Participants in the survey work in marketing, IT or operations.

Most organizations are in the early stage of learning more about blockchains. In fact, 42% of organizations surveyed are still in the discovery phase of their blockchain journey. Meanwhile, only 28% have selected their first vendor or have already moved on to another provider.

One of the more surprising findings is that enterprises are now looking to blockchain as an “important weapon” when it comes to the “personal-data privacy war.” 

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Survey participants agree that trust remains one of the most important characteristics of a partnership. The research finds that 71% of decision-makers agree the presence of blockchain technology can boost customer confidence when it comes to protecting their personal data, but 10% don’t even know who has access to their digital records.

When asked how much time do survey participants waste daily tracking down or sharing digital information with others across their organization, only 10% said they waste no time, 19% said they waste a few minutes, 29% said 30 minutes, 18% said 60 minutes, and 24% said more than an hour.

1 comment about "Blockchain Still Misunderstood By Many".
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  1. Randall Tinfow from CLICK-VIDEO LLC, February 12, 2019 at 5:27 p.m.

    The highest use of blockchain is individual privacy and identity management. However, I've yet to see anything close to a low friction implementation. 

    Because the public has been conned of $750B in asset value over the last 2 years, there is understandable reticence to re-engage with the technology. The name blockchain recalls our starry eyed friends and relatives who went all in and lost. 

    The underlying question is, "what is the business model for privacy providers?" What stream of income will compensate for the development and maintenance of identity systems? 

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