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Laxman Pai, Opalesque Asia:

More financial institutions and global business companies are utilizing blockchain technology, reveals a recent study. The report by the Big Four auditor Deloitte found that nearly 40% of respondents already have blockchain in production, while forecasts predict significant investment over the next 12 months.

"This year, 39% of companies surveyed by Deloitte are already integrating the technology into their operations-a sharp increase from 23% in 2019," it said.

Deloitte surveyed a sample of 1,488 senior executives across 14 countries over a month ending March 3rd. So in many regions, this represents a pre-COVID-19 perspective. Interestingly, the Asia-Pacific region appears to be leading on the matter with the most use cases employing the distributed ledger technology (DLT).

The company said that "organizations appear to be more committed than ever" to the blockchain. This was affirmed by 55% (2019: 53%) of respondents saying blockchain is critical and in their top-five strategic priorities. 82% stated that they are already hiring new staff with blockchain expertise-or planning to do so in the next 12 months.

"APAC (China, Singapore, and Hong Kong) served as a leading region in hiring." - reads the report," it said.

Due to this development, Deloitte concluded that "while blockchain was once classified as a technology experiment, it now represents a true agent of change that is affecting entire organizations."......................

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