In a survey of 3,000 executives conducted by the IBM Institute for Business Value (IBV) about their blockchain intentions, one-third are or intend to use blockchain in their business. Eight in ten of those invest to:
- respond to financial pressures in their industry
- develop entirely new business models.
The study bases its findings on interviews with C-Suite executives across multiple global industries. It considers how these C-Suite executives intend to exploit blockchain technologies to operate, generate revenue, respond to customers and partners, and compete.
In addition, the IBV report compares the one-third actively experimenting, piloting, or implementing blockchains (the Explorers) with those not currently considering blockchain.
“With blockchain, everyone is looking at the same thing at the same time. This new way of making trusted transactions will spawn new business models, processes, and platforms where both producers and consumers can be in a connected ecosystem to create new kinds of value,” said Brigid McDermott, IBM Vice President for Blockchain Business Development.