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Laxman Pai, Opalesque Asia:

Big Four auditing firm PricewaterhouseCoopers (PwC) released its 2018 Global Blockchain Survey which found that 84% of executives surveyed say their organisations are involved with blockchain technology; 15% state they are fully live.

The new research released by PwC: "Blockchain is here. What's your next move?" surveyed 600 executives across 15 countries and territories on their development of blockchain and views on its potential.

However, PwC has found trust and regulatory uncertainty as the biggest obstacles to blockchain adoption.

32% respondents said that blockchain projects are currently in development at their organizations, while a fifth said it is in research mode.

Respondents believe the US (29%), China (18%), Australia (7%) to be leading in developing blockchain projects. They also predicted that within the next three to five years, the center of influence will shift to China (30%) from the U.S. (18%).

"Blockchain by its very definition should engender trust. But in reality, companies confront trust issue at nearly every turn. Failing to state a clear business case from the outset leads to projects stalling," Steve Davies, Blockchain Leader, PwC, said. "Businesses need to put more effort into building into their design how they can tackle trust and regulatory concerns."

The research report also says that Gartner anticipates that blockchain-focused initiatives will generate some $3tn in business value......................

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