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Wednesday, 16 May 2018

Global executives are increasingly seeing a business case for using blockchain

Global executives are increasingly seeing a business case for using blockchain, a report from Deloitte LLP found, according to Bloomberg. Of the 1,053 executives surveyed for the report, nearly 75% see a compelling business case for it and 84% forecast the mainstream adoption of blockchain in the near future. Considering that blockchain is “one of the hottest catchphrases among global companies right now,” around 40% of the executives say that their company is planning to invest USD 5 mn or more into blockchain, while around two thirds said they already have a system in production and/or have joined a blockchain-focused consortium. Detractors still exist, however — almost one quarter of the executives just don’t see a “compelling application to justify blockchain’s implementation.”

And no, blockchain isn’t bitcoin, it’s a distributed database. Check out Wired’s simple two-minute video primer here.

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