Ernst & Young: More than two-thirds of Asia Pacific companies lack understanding of blockchain solutions

Ernst & Young (EY) surveyed in a real-time blockchain live broadcast found that more than two-thirds or 68% of Asia-Pacific companies in blockchain solutions lacked knowledge and education about their applications. Ernst & Young said on Tuesday that lack of understanding and education is the biggest obstacle for boards and executives to adopt blockchain solutions. In addition, about two-thirds or 66% of respondents believe that they need to better understand the possibilities, risks, and benefits of blockchains before applying them to organizations. The survey included 576 participants from the Asia Pacific region, of which 13.7% were from Singapore.