KPMG polls show that blockchain adoption is not a priority for finance executives

KPMG polls show that blockchain adoption is not a priority for finance executives

In February 2019, KPMG conducted a survey on a live webcast called "Understanding Blockchain – It Is Not Limited to Cryptographic Currency". During the investigation, KPMG asked about 450 tax and financial executives from different companies about blockchain and other technology issues.

Overall, the survey results show that tax and financial executives are looking for different solutions to address the day-to-day operations of team operations; however, the use of blockchain technology is not a priority.

At least 60% of respondents said they want to deploy blockchains in their own companies to do some repetitive tasks; however, 67% have not used the technology so far, and another 27% are uncertain about their company. Whether you are using blockchain technology.

Respondents also cited key factors that hindered the implementation of blockchain within the company. 33% and 22% of respondents mentioned lack of resources and funding, respectively; other respondents indicated lack of access to technology decision makers and lack of technical skills.

David R. Jarczyk, head of innovation and head of tax at KPMG Blockchain, believes that blockchain can significantly improve the workflow of well-known teams. He added that when blockchains perform their day-to-day work, they can focus on analyzing data.

Jarczyk concludes:

The blockchain is like a hormone-enabled spreadsheet that automates certain tasks, increases transparency, speed and reliability, and provides a single source of transactional information.

A poll conducted by KPMG earlier (end of 2018) showed that 48% of corporate executives believe that blockchain is likely or very likely to change the way they do business in the next three years; 41% of respondents said They may use this technology; only 27% of respondents claim that the technology will not affect them at all.

According to a survey by the Global Blockchain Business Council (GBBC), 40% of institutional investors believe that blockchain is the most important innovation since the Internet; however, less than one-third said their company A person in charge of the blockchain needs to be found on the board within the next five years.

Another poll conducted by software development company Globant shows that 64% of organizations intend to invest in blockchain solutions to improve their internal operations, while only 46% of respondents are willing to deploy the technology.

At present, the blockchain faces an embarrassing situation. Even more enterprises, even if they realize their importance, do not intend to deploy or know how to deploy.

In contrast, China has been effective in the application of blockchain technology. Recently, the “Net Letter Office” announced the list of 197 blockchain projects, involving more than 40 listed companies. Would you like to know the specific application scenarios of these projects? (Star Daily)