Almost 84% of world companies integrate blockchain into their business processes

Early autumn 2018 PricewaterhouseCoopers did a survey that showed 84% of respondents among business exectuives were actively involved with blockchain. While 62% of organisations surveyed reported launching their own blockchain initiatives.

600 executives from companies across 15 nations participated in the survey. As we have already said almost 84% adopt blockchain for their business processes, however, so far just 25% have reached the stage of launching a pilot version of a blockchain network. What’s interesting is that businesses from almost all known economy sectors are trying to bring blockchain to their organisations.

PwC has also asked companies about the main challenges in making the switch to blockchain: some organisations just don’t know where to start, while 14% of executives complained there was no control and integration mechanisms for the new technology, discouraging them from adopting the technology. Some executives have also expressed fears of high expenses tied to integrating the distributed ledger technology into operations.

Survey authors also point out that the main challenge in spreading the technology for 27% of respondents is regulatory uncertainty and lack of standardisation.