It’s not just a pretty name: Blockchain technology is creating real value in traditional industries

The Blockchain technology has proliferated in a number of industries outside of the cryptomone space in the decade since the inception of Bitcoin (BTC). The underlying technology of pre-eminent cryptomontage went unnoticed in the early years of cryptomontage adoption before projects like Ethereum began to explore the range of possibilities for Blockchain networks.

While many new companies were looking to leverage Blockchain technology to power new crypto currencies, a number of conventional technology companies began building their own enterprise Blockchain systems that could be deployed. IBM and Microsoft are giants in the information technology space and have led the development of many digital tools that are used around the world. Both companies have developed their own Blockchain platforms that are built to scale to serve everything from small businesses to global corporations.

In fact, the traditional IT sector could be at the forefront of efforts to drive the adoption and proliferation of Blockchain technology across all industries. But which industries are really looking to use Blockchain technology to renew their systems and offerings, and is this technology needed in others?

Survey suggests that the adoption of Blockchain is increasing

Audit giant Deloitte’s latest global Blockchain survey has revealed that an increasing number of respondents to its annual in-depth industry research are actively developing Blockchain projects. The research indicates that there was a 16 per cent increase over last year’s figures, which are based on a survey of senior executives and professionals in 14 countries to determine whether they had already implemented Blockchain services or projects in their respective organizations.

An interesting fact was the ever-increasing percentage of respondents who believe that Blockchain technology will be a fundamental part of their business and an important priority in their planning. The report provides a broad overview of current attitudes, while providing good evidence of the potential for Blockchain technology to be more widely used.

IOVlabs Joins Linux Foundation’s Hyperledger to Accelerate Adoption of Blockchain in Enterprise and Government

John Wu, the president of AVA Labs, told Cointelegraph that the Deloitte report confirms a growing body of research highlighting the growing adoption of the Bitcoin System and digital assets. Wu stressed that companies that are more proactive in exploring technology could earn much more in the coming years:

„Institutions and individuals need to be better equipped to manage financial risks, protect investments and even grow our assets when the next crisis hits. The widespread adoption of Blockchain technology is an important step in building a new system robust enough to meet the challenges ahead, and will reward innovators who take action today. This dramatic and rapid evolution of the market structure towards decentralization is rapidly moving away from the ‚if‘ to the ‚when‘.

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