• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
PwC
Nexo

PwC Survey Identifies ‘Usual Suspects’ as Hindrances to Widespread Blockchain Adoption

Osato Avan-Nomayo by Osato Avan-Nomayo
3 years ago
in Blockchain, Companies, News, News teaser
0

A recent PwC survey has identified the usual suspects — regulatory uncertainty, and lack of trust, among others— as the major factors that hamper the widespread adoption of blockchain technology.


Barriers to Blockchain Technology Development

According to the survey, there are already dozens of adoption cases for blockchain technology in the global business process. However, issues relating to scaling, compatibility, lack of trust, regulatory uncertainty, etc., continue to trail the emerging industry.

All of these problems are common in the developing blockchain narrative. Even popular public blockchains like Bitcoin and Ethereum have been grappling with scaling issues. Earlier in the year, there was also a raft of exploits against unsecured public blockchains like Verge and Bitcoin Gold leading to repeated 51 percent and double-spending attacks.

Several Blockchain Initiatives Underway

As part of the study titled, “Blockchain is here. What’s your next move?,” PwC surveyed 600 business executives spread out over 15 different regions across the globe. More than 80 percent of the participants reported that they were involved in blockchain technology adoption cases for their respective organizations. More than a quarter of this group said that they already had live pilot implementations of their blockchain projects.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The survey also revealed that the finance industry was leading the way in blockchain adoption. This revelation isn’t surprising given the popularity of cryptocurrencies like Bitcoin, Ether, etc. Other leading sectors identified by the PwC study include industrial manufacturing, healthcare, and utilities.

The survey also revealed that the finance industry was leading the way in blockchain adoption.

China is Set to Overtake the US

According to the report, the United States is still the global leader as far as blockchain technology development is concerned. However, China is fast becoming a threat to the US’ dominance of the emerging technology.

Recently, it was revealed that Chinese conglomerates submitted more blockchain patents in 2017 than any other country. Chinese giants Baidu and Tencent Holdings alone reportedly accounted for 56 percent of all 2017 blockchain-related patent filings.

Chinese companies are reportedly keen on exploiting technology irrespective of the county’s crackdown on cryptocurrency trading. Commenting on the developing narrative, PwC’s blockchain chief, Steve Davies said:

Creating and implementing blockchain to maximize its potential is not an IT project. It’s a transformation of business models, roles, and processes. It needs a clear business case and an ecosystem to support it; with rules, standards, and flexibility to deal with regulatory change built in.

What are your thoughts on the conclusions drawn by the PwC survey? Let us in the comment section below.


Image courtesy of Pixabay, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.