More than 84 percent of companies are connected with the global blockchain technology. These companies comprised of a proof-of-concept and full-fledged product.
It is a high percentage for a promising technology, but PwC suggested that it’s determined by a real business concern. As a distributed, tamperproof ledger, a well-designed blockchain doesn’t cut out intermediaries, decrease costs, and rise in speed. The blockchain is a very simple concept that maintains a chain of blocks, or records with a timestamp and link to a previous block. However, small-scale companies have a live product that trusts on blockchain and few of the companies (20 percent) that are still in the research phase, while other 30 percent have moved onto development, and the rest companies are directing something else.
This high level of commercial interest merges with a new report from Upwork that placed blockchain among the hottest skills of the freelance job market and Dice data showing that experts in the technology can earn 6-figure salaries. Companies keen in blockchain require tech professionals who know the technology, and they’re evidently willing to pay for the right employee.
Financial institutions are seen as the leaders in the global blockchain, followed by companies that make industrial products, utility energy, and healthcare, as well as government. This seems rational as the blockchain is seen as a method to keep a track of virtual and real assets from cryptocurrency to transport a container full of raw materials.
However, considerable barriers to adoption still remain. These are the regulatory indecision, lack of trust among customers came in second, followed by the capability to network together with a separated blockchain not working together incapability to scale, knowledgeable property apprehensions and audit.
As per Insights Die, the above problems will take a quite some time to work out only if they’re resolved at all. In the meantime, in spite of the commotion surrounding Bitcoin and cryptocurrency, a global blockchain is very much here in terms of a business practice.
The post Multitudinous Companies Adopting Global Blockchain Technology Despite Regulatory Uncertainty appeared first on OWLT Market.
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