DLT can be applied far beyond the realm of cyber coins. That’s why hundreds of companies around the world are searching for ways to get involved with DLT and maximize their work. As per the recent PwC's 2018 Global Blockchain report, 84% of surveyed chiefs said their businesses are working with the DLT.
As it can be seen, no one wants to be left behind what is believed to be the growing system of safe data recording.
Get on Top of The DLT
A new survey carried out among 600 execs with technology duties in establishments from 15 areas, is pointing out that the world is jumping on the crypto-bandwagon. DLT helps to register operations on an open apportioned "account book," so there’s no need for third parties.
It is impossible to make changes to the data which has been recorded and its huge benefit is the ease of tracing such information. Blockchain has become popular with the advent of digital money but its use is tested everywhere from medical data recording to tracking shipment.
Trust Is a Big Deal
45% PwC survey partakers assumed it is a trust which may become the barrier to the wide adoption of DLT. , whereas 84% answered they are already using the technology, CNBC informs.
At the same time, PwC noted that many companies put trust at the top and take all the novel tech trends with the grain of salt. They still question DLT’s safety, scalability, and veracity.
Among other concerns with regard to the adoption of DLT, the respondents named uncertainty around regulation and intellectual property issues.
In spite of this, some of the outstanding tech (and not only) companies are using blockchain for their own needs and ever register patents settled on it or explore the potential use of DLT. Let’s take a handful of examples:
- JP Morgan
Cowen, another research company, estimated it might take up to 6 years for DLT to be adopted across fields.