Blockchain technology favored by 41 percent of world’s tech leaders, finds latest KPMG report

Cryptocurrencies and the Fin-tech industry have been in the news consistently due to the sheer number of developments and partnerships being announced by various mainstream players. Since the beginning of 2019, the cryptosphere has seen drastic changes with established institutions like JP Morgan, and Banco Santander dipping their toes into the cryptocurrency waters.

The rising mainstream popularity of blockchain technology was evidenced by the latest KPMG report which stated that 41% of tech leaders were in favor of adopting blockchain for business in the next three years. KPMG specializes in tax and audit services and it collected responses from over 740 global leaders in the technology industry from across 12 countries for the purpose of this survey.

Several proponents of the space have come forward and supported the field, with Damien Ducourty being one of them. Ducourty, co-founder of B9lab, an organization that provides blockchain education and training, stated,

“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.”

Looked at closely however, the survey was a mixed bag of responses. The numbers showed that 41% ticked on the “very likely/likely” option while 28% clicked on the “not likely/not at all likely” option. The survey also gauged the overall impact of blockchain technology, with 48% of the participants stating that blockchain technology could change the way business is conducted over the next three years.

The impact and acceptance of blockchain technology across industries was also reflected by India’s IIM Calcutta getting ready to offer a financial blockchain program from May 2019. Prof Indranil Bose, the Program Director, said,

“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.”

IIM Calcutta joins Shanghai’s Fudan University and the University of California, Berkeley in offering blockchain and crypto-education programs.

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