Survey Says This Many Companies are Involved with Blockchain on Some Level

According to a new survey, 84% of companies are now dabbling in blockchain.

A PwC survey that was published on Monday said that the hype around blockchain is growing and many companies are now ‘actively involved’ with the technology.

“Everyone is talking about blockchain, and no one wants to be left behind,” the 2018 Global Blockchain Survey noted.

The survey included 600 executives from 15 territories.

Blockchain, which is often connected to bitcoin, is a technology that underlies cryptocurrencies and records transactions on a public, distributed ledger. It eliminates the need for a third party in many cases.

Some of the PwC respondents included business executives with technology responsibilities and 45 percent said “trust” could be the key roadblock in blockchain’s widespread adoption.

“In reality, companies confront trust issues at nearly every turn,” PwC remarked. “As with any emerging technology, challenges and doubts exist around blockchain’s reliability, speed, security and scalability.”

Companies that are already dabbling in blockchain include Facebook, Amazon, and Microsoft. Facebook even said this past spring that it is going through a reorganization that will include a new blockchain effort.

According to research from Cowen, it will take 5.9 years for blockchain to gain widespread adoption however.