Financial services may be the leading industry adopting blockchain, but executives also see promise in industries like healthcare, according to a PwC survey.
In recent years, industry and government stakeholders have supported efforts to use blockchain, a permanent and shared ledger of online transactions or exchanges, to streamline healthcare operations. Unlike a traditional database that is centrally located and maintained by one party, a blockchain record is shared among a network of users.
To investigate attitudes toward blockchain adoption across industries, consulting and audit firm PwC polled 600 executives from various industries worldwide. Most respondents — 84 percent — said their organizations have at least some involvement with blockchain technology, although only 15 percent are live with a blockchain product past the pilot stage.
Here's how seven major industries stacked up when respondents were asked to select which sectors are the most advanced in developing blockchain technologies:
1. Financial services: 46 percent
2. Industrial products and manufacturing: 12 percent
2. Energy and utilities: 12 percent
4. Healthcare: 11 percent
5. Government: 8 percent
6. Retail and consumer: 4 percent
7. Entertainment and media: 1 percent
Although executives see potential in blockchain, they cited many barriers to widescale adoption of the technology. The top barriers included regulatory uncertainty (48 percent), lack of trust among users (45 percent) and ability to bring a network together (44 percent).
To download PwC's survey, click here.