Survey Says Block Chains To Change the Way Business is Done in the Future

After KPMG’s Technology Industry Innovation Survey, 48% of the executive have expressed the opinion that block chain currencies will be changing the way they do business in the next three years. In comparison, 27%  of those who took part of the survey believe that block chains will not affect them at all and the remaining remain neutral or undecided.

KPMG is a leading auditing and financial services company and the study was helmed by their block chain expert Tegan Keele. The study asked over 740 global techpreneurs from 12 different countries around the world. 66% of those asked could be considered C Level executives.

What the Executive Thought of the Block Chain

In the same survey from the “Big Four” auditing firm, It shows that 41% of the respondents who consist mostly of C-level executives responded saying that they will be using the technology in their work compared to 28% who think they are not likely to use the technology for their future transactions. The remaining 31% failed to provide a definitive answer to the question or remained undecided.

From the same survey, they found that these executives find that the Internet of Things would be the major deterrent for the block chain in the future. The internet of things is the way devices communicate with each other making applications and transactions seamless.

Finally, with the KPMG survey, the executives believe that the future applications of this technology could be massive and varied. The application varies from new business introduction (9%), to cost reductions,  and differentiation of products and services at 12%

Thoughts from Other Surveys

On another survey performed by the Global BlockChain Business Council revealed that the Block Chain may be the most important innovation since the internet according to institutional investors. 40% of them in fact. Despite that, only a third believe that they would need block chain leaders in their board to succeed in the future.

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