Deloitte in support of Blockchain and Telecommunication Integration

A new survey, published on the morning of 28th August, Tuesday by Deloitte has revealed that 40 per cent executives from the TMT (telecom, media and technology) sector are willing to make investments worth millions towards research in blockchain technology over the course of the coming year.

The report came from the Deloitte Center for Technology, Media and Telecommunications and it is one of the aspects of taking a deeper look at the potential of blockchain technology and its implementation in the world of business.

To explore the possibilities of such implementation, the surveyors questioned 1053 executives in total, spread across 7 nations, with 180 of them being from only telecommunications, media and technology firms. It was revealed that 84% of the respondents were convinced that blockchain has the potential to be scaled rather broadly and see adoption in the mainstream. Around 59% of them hold the opinion that use of blockchain would inconvenience their particular industries and disrupt their efficiency. 29% of respondents said that they were already a part of some sort of a “blockchain consortium”.

In addition,in the report from Deloitte’s TMT Center, it was revealed that the overall levels of interest in blockchain was now higher than ever. The report has gone on to predict that blockchain companies would soon enjoy revenues as high as $2.3 billion by 2021, while they only earned about $340 million last year, in 2017.

Some other data points were also included in the findings of the survey. It revealed a high level of interest in the financing of blockchain projects with venture capitalists having contributed a total amount of $1.3 billion to blockchain startups in just the first half of 2018. It also revealed the heightened interest of developers in this emerging technology, showing that since 2009, the growth of blockchain projects on GitHub, an open-source platform for development, has been substantial. In 2016, the developers also came up with new projects numbering to 27000, the report added