This week saw the release of the 2019 Deloitte blockchain survey – polling 1,386 senior executives from companies with more than $100 million (USD) in revenue. This survey is of particular interest to VeChain, as enterprises are a large portion of VeChain’s target market. With Deloitte recently joining the VeChain ecosystem, gauging their client’s perceptions is a good indicator of how impactful VeChain’s services can be in the industry.

Most noticeably, 2019 saw a large increase in executives viewing blockchain as critical, with a noticeable decrease in those viewing blockchain as relevant but not a priority. Some other key highlights included:

77% thought they’d lose a competitive advantage without blockchain

56% thought blockchain will disrupt their industry

83% thought there was a compelling business case for blockchain

86% thought blockchain will gain mainstream adoption

43% thought blockchain was overhyped

The importance of circular ecosystems, such as VeChain and DNV GL’s My Story or the Low Carbon Digital Ecosystem, was also evident, with 35% of executives claiming they had joined a consortium with competitors. 31% said they don’t belong to one, but are planning on joining in the next 12 months.

Deloitte also used the survey to highlight three key regions: China, Singapore, and Israel. These were selected because of their unique stance on cryptocurrencies and blockchain, with Singapore and Israel being particularly blockchain-friendly. China, while being negative towards cryptocurrencies, was expected to see a large increase in strategic blockchain implementation, an area that VeChain, as a permissioned blockchain-as-a-service provider, are expecting to take advantage of.

The complete survey is available here.