Central Blockchain Council of America recently released its findings on the current state of the Blockchain industry from among its research across hundreds of companies involved in implementing their blockchain projects. The study found that regulatory factors were the key hurdles in the implementation of blockchain technologies. With most chief technology officers also citing lack of trust among users while interoperability of blockchains and decentralized apps also emerged as a key factor. Blockchain is all set to transform every industry it touches.
However, experts across the world agree that until the regulatory and interoperability issues of blockchain implementation, cause largely due to the lack of specific global standards, are addressed, the entire potential of the enterprise blockchain will remain untapped. What else is in store for the future of the blockchain world? Other important factors also emerged, including concerns about audits and compliance in blockchain implementations especially regarding banking, finance and currencies.
While a majority of companies agreed that blockchain implementations were a vital part of their growth story, only 14% of companies are actively researching the methods and modalities of implementations within their organization. Furthermore, the research also found out that many of the current companies looking to deploy blockchain technologies in their business operations view China as an emerging leader in the domain. Get more such exciting insights and updates from the CBCA blockchain technology adoption by organizations infographic for 2018, powered by the research of the Central Blockchain Council of America, the world leaders in professional blockchain certification. Check it out here!