Survey: 48% of Financial Experts Don’t Know What Blockchain Is
December 5, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
A recent survey has revealed that around half (48%) of people in the financial sector have no idea what Blockchain technology is.
The surprising result of the statistics confirms that the crypto industry is still in its infancy.
The financial sector is often considered the most knowledgeable industry when it comes to Blockchain. Whether you love or hate technology, everyone in the financial world should know about it.
However, a recent survey comes to a very different conclusion: Shockingly, about half of all financial experts seem to have no idea what Blockchain technology is all about.
The findings come from a recent survey by management software company Onguard, published in the firm’s annual FinTech Barometer. Around 1,000 professionals from the financial sector were surveyed.
- 48 percent of financial employees said they had “no idea” what Blockchain is.
- 52 percent said “Blockchain is never mentioned in meetings”.
- Only 29 percent say they already use or plan to use Blockchain technology.
Somewhat happier was the situation with the CFOs. Around 45 percent of respondents said that they discuss the Blockchain “at least once a week”.
Only 10 percent said they saw it as a “disruptive technology”, with cloud computing and artificial intelligence as the major disruptors of the financial world.
These survey results illustrate that despite the 2017 hype, the Blockchain industry is still at the very beginning.
The Onguard CEO came to a similar conclusion when publishing the results:
“With nearly two-thirds of CFOs already preparing an initiative related to Blockchain, I expect that this is just the beginning of a Blockchain revolution.”
It is often said that Blockchain technology and finance are complementary. However, with the cryptocurrency industry obviously going its own way, some in the financial sector may soon feel left behind unless they update their perspective.
Author: Marko Vidrih
