The 6 Major Blockchain Trends For 2018 Outlined By Deloitte Posted on : Aug 14 - 2018

While the mainstream viability of cryptocurrency remains in question, one of the technologies that has emerged in its wake is primed to do big things.

Blockchain continues to grow in popularity as people across multiple industries find new applications for it. Recently, Deloitte released a report entitled, ‘2018 Global Blockchain Survey’. In it, they explore several relevant, blockchain trends that are worth paying attention to in 2018 and onward.

If you are interested in exploring what blockchain can do for your business or whether your startup idea can benefit from this versatile and secure technology, the prospects are rather promising.

1. Enterprises are now applying blockchain, not just exploring it

According to Deloitte, a key shift is happening. Where businesses were once exploring blockchain’s potential to streamline business processes, even to disrupt them, today they are beginning to create actual applications for its use.

While it’s still more common for tech or ‘digital’ enterprises to embrace this technology, this change definitely indicates that blockchain is gaining wider acceptance. More importantly, it’s gaining more confidence.

2. Practical blockchain applications are on the rise

When it comes to more traditional businesses, such as those in the financial sector, the focus is mostly on applying blockchain solutions to the current business model, according to Block Ground Capital. As revealed in the Deloitte study cited earlier, 74% of traditional businesses can envision practical use cases, but significantly fewer are implementing them. Still, more than 40% believe their organizations will adopt blockchain in the future.

For example, the Australian Securities Exchange has replaced their existing CHESS system with a blockchain based, distributed ledger technology. While this adoption is noteworthy, it only came after years of testing and consideration. If this kind of adoption is an indicator, it shows that traditional businesses are likely to continue to take a slow approach to adopting blockchain technology.

3. Blockchain fatigue becomes a problem

In some ways, blockchain is suffering the same type of overhype that virtual reality is. For years, people in various sectors have been hearing about blockchain. It’s been portrayed as a true game changer. The problem is that so many people still aren’t seeing real world benefits. To them, like virtual reality, it remains a nifty technology without a practical application they can really wrap their heads around. View More