Over one in 20 (6%) anticipate spend in this area will increase by more than 200% during this time period.
When it comes to which sectors professional investors believe blockchain will have the biggest impact on over the next five years, 69% cited financial services and banking, followed by 45% who said digital identity, and 34% who said healthcare.
Building on this, when asked which sectors will see the biggest increase in the usage of blockchain over the next two years as opposed to just exploring and researching its potential, 33% of institutional investors expect to see a ‘dramatic’ increase in the use of this technology over this time period within financial services and banking, with a further 41% anticipating a slight increase.
The corresponding figures for digital identity - the sector investors expect to see the second largest impact - are 20% and 38%, and for healthcare, which is expected to see the third biggest impact, they are 16% and 37%. However, the research, conducted amongst institutional investors from the GBBC, showed that 63% believe senior executives at large established businesses have a poor understanding of blockchain, only 7% described their understanding as ‘good’, with the remainder describing it as ‘average’.
According to the research, 76% of professional investors interviewed don’t feel senior executives at large established businesses are particularly committed to blockchain.
The Global Blockchain Business Council (GBBC) is the leading trade association for the blockchain technology ecosystem, which brings together innovative organizations and founding thought-leaders from over 40 countries to advance understanding of blockchain technology amongst global regulators and business leaders.
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