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KPMG Reports, 41% Of The World’s Tech Leaders Favor Blockchain Technology

Against all odds, Cryptocurrencies and the blockchain industry are thriving in tech markets all over the world. With entries such as Facebook and Google into the cryptoverse, we might be rolling towards mass adoptions soon. 2019 hasn’t been all that bad for the cryptoverse as more and more mainstream players want in on the action.

Now, as per a KPMG report, turns out this rapidly changing trend is due to a very interesting reason.

As per the most recent KPMG report which is engaged in the collection of data in the tax and audit services, a significant 41% of leaders in the tech industry favored the adoption of blockchain technology within business models over the course of the next 3 years. Responses were collected from 12 countries and over 740 tech leaders gave in their responses.

The tech industry is filled with people who only see the possibilities of blockchain based technology and this includes co founder of B9lab, a firm that specializes in providing blockchain based education,  Damien Ducourty who said, “Incumbents can choose to be part of the potential transformation and shape the change or try and streamline their existing practices, he added. It seems many companies are keeping their options open by doing both.”

This goes to show how investing in and developing blockchain technology has become a benchmark for the future.

On closer inspection of the survey, it is evident that not everyone agrees, however, on trying to find out the overall impact of blockchain technology, approximately 48% respondents states that they felt it could revolutionize the way business models are made over the next 3 years.  Around 41% chose the very likely/likely category while 28% picked the “not likely/not at all likely” option.

According to the Program director of India’s IIM Calcutta, Professor Indranil Bose, the importance of blockchain development was reflected in the launch of a new financial blockchain project.   “A vast majority of firms in the banking and financial sector believe that the lack of adequate FinTech talent is an existential threat to their future. Our FinTech programme, designed with today’s management and finance professionals in mind, will leverage the deep research and consulting expertise of IIM Calcutta faculty and our state-of-art Finance Lab. We plan to equip and enable 2000 Fintech professionals in the next few years.”

Other educational institutions that provide students with blockchain and crypto courses include Shanghai’s Fudan University and the University of California, Berkeley.

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Komal Zaheer

Writer. Procrastinator. Bra Burning Feminazi. Likes to make people laugh. Student of Journalism. Content Contributor @BlockPublisher.

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