90% of companies adopting blockchain technology and data

The cryptocurrency and blockchain space has had a tumultuous year last year, but that doesn’t stop users and businesses from turning their attention to the industry.

New research from CasperLabs and Zogby Analytics reveals that sentiment about blockchain adoption is particularly positive among businesses. The poll was conducted through 603 corporate ‘decision makers’ in the US, UK and China.

Nearly 90% of the companies surveyed reported deploying blockchain technology to some extent, and 87% said they plan to invest in blockchain in the next year. This is especially noticeable in China, where more than half of respondents plan to invest in blockchain in his 2023.

Casper Institute board member Ralph Kuvri said despite the recent turmoil, businesses continue to look to blockchain as a solution.

“It is very encouraging that companies understand that blockchain is the solution, not the competition.”

Companies already using this technology benefit from two main features: security (42%) and copy protection (42%). Those involved in IT-based operations are using blockchain for internal workflows (40%), supply chain efficiency (34%), software development (30%), etc.

Kubli commented that 2023 will be an important year for the adoption of blockchain technology, especially for providing real solutions to real-world problems and creating long-term value.

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But the key discovery was to uncover where corporate leaders are lacking. Despite the majority being confident in their knowledge of blockchain technology (73%), 54% of respondents still consider the terms ‘blockchain’ and ‘crypto’ interchangeable. .

Similarly, the biggest hurdles to adoption are reported to be limited developer knowledge, lack of tools, interoperability, and industry irony. Nevertheless, nearly all respondents said they would be more likely to adopt if they had more understanding and insight into how their industry peers are using blockchain.

Like accessibility, education is a long-standing challenge and a barrier for those outside the industry who want to interact with technology and communicate with clients.