Professional services firm Deloitte are alleged to have completed a new research project into blockchain investment from their clients within the Technology and Media industries. The bottom line of the research is that these institutions are ready to invest in blockchain technologies, a readiness that could in turn inspire major institutional investment into cryptocurrency and blockchain projects such as Bitcoin.
This research comes as a part of a bigger push from Deloitte, into exploring how their clients can benefit from investment in the cryptosphere. As a result of this, the research carried out has been done so on a vast scale, covering 1,053 clients across seven different countries. Deloittes findings point out that 84% of firms surveyed believe that the blockchain will see adoption soon enough.
According to Coindesk:
“84 percent of all respondents believe that blockchain will broadly scale and reach mainstream adoption. Roughly 59 percent say they think blockchain could disrupt their specific industries, and 29 percent of all respondents have already joined a blockchain consortium.”
Furthermore:
“Overall interest in blockchain has grown as well, according to Deloitte’s findings. The firm predicted that revenue for blockchain companies would grow from $340 million in 2017 to as much as $2.3 billion by 2021. Deloitte’s report included other data points highlighting the interest on the financing side of things. In the first six months of 2018 alone, venture capitalists have funded blockchain startups to the tune of $1.3 billion.”
What does this mean for Bitcoin investment?
It’s hard to gauge how this will impact Bitcoin specifically, although investment in blockchain technologies is sure to lead to an investment in Bitcoin. As institutions become more positive about blockchain technology and become more aware of the benefits of blockchain, they will develop a greater confidence in Bitcoin. Once they understand the technology behind it, they are more likely to invest in it.
Deloittes findings tell us that institutions are ready for the Blockchain and therefore it’s only a matter of time before Bitcoin sits on their radars too. After that, altcoins will come next and then, maybe adoption on an institutional level will finally become a more realistic prospect.
