PwC’s Global Blockchain Survey 2018

$
Blockchain is here. 600 44% 31% 15
What’s your next move? blockchain-savvy
executives
C-suite
and VPs
with revenue
$1 billion+
territories

Distributed ledger technology and digital tokens are rewiring commerce. But lack of trust and
regulatory uncertainty means few businesses have fully committed. Here’s a look at where
companies are in their blockchain journey, and four strategies for navigating this new world.

84%
How far along are companies with blockchain?

14% 20% 32% 10% 15% 7%

say their organisations have None Research Development Pilot Live Paused
some involvement with Blockchain
blockchain technology. project stage
Includes companies
at any stage

Industries seen as leaders in blockchain Signs of the new

Financial services
blockchain world
Industrial products and manufacturing • Tokenised everything
Energy and utilities The representation of real or virtual assets on a blockchain
is spreading to raw materials, finished goods, membership
Healthcare 12% rights, and more. These digital tokens will transform
Government 12% company processes and usher in new business models.
11%
Retail and consumer 8%
4% • ICOs are self-funding the tech
Entertainment and media 1% Initial coin offerings, in which a company sells a predefined
number of digital tokens to the public, are a growing
alternative to classic debt/capital funding. They’re raising
billions of dollars for the development of blockchain
technology platforms.

• ERP + blockchain
Enterprise software platforms that are the engine for
company operations like finance are beginning to integrate
blockchain. Using blockchain with their ERP systems,
companies can streamline processes, facilitate data
sharing, and improve data integrity.

• New leaders emerge

46% Our survey respondents still perceive financial services to
be the current and near-term future leader of blockchain,
but other industries are on the rise (see left).

pwc.com/blockchainsurvey
It’s hard to trust The biggest barriers to blockchain adoption
Respondents’ top three challenges
blockchain 1st 2nd 3rd Total

By design, blockchain can foster Regulatory uncertainty 27% 11% 10% 48%
trust. But in reality, companies
Lack of trust
confront trust issues at nearly every among users
25% 13% 7% 45%
turn. 45% believe lack of trust
among users will be a top barrier. Ability to bring 21% 15% 8% 44%
networks together

Separate blockchains 11% 18% 12% 41%

not working together

Inability to scale 6% 12% 11% 29%

Intellectual property 6% 9% 15% 30%

concerns
Audit/compliance 4% 7% 9% 20%
concerns

Which territories are

29% 30%
seen as blockchain
leaders—today and
tomorrow? 18% 18% 7% 8% 6% 4% 5% 5% 5% 6% 5%
2%

2018
United States China Australia Japan Hong Kong India UK
2021-2023 projected

How to overcome the trust barrier

Blockchain’s trust paradox is a significant, but not insurmountable, challenge.
Here are four strategies for navigating this new world.

1 Make the
business case 2 Build an industry
ecosystem 3 Design deliberately:
determine rules of 4 uncertainty
Navigate regulatory

Strategic clarity will ensure
your blockchain initiative
has a business purpose
around which participants
can align.
engagement
Blockchain may call for Every blockchain will You’ll need to stay agile to meet
competitors to collaborate require rules and standards, regulatory requirements as they
in a new way, as they come particularly around how evolve in the years to come.
together to solve industry participants will access
problems. and engage.

Contact Steve Davies

Global Blockchain Leader
Grainne McNamara
US Blockchain and Cryptocurrency Leader
+44.759.035.2408 +011.646.714.1541
steve.t.davies@pwc.com grainne.mcnamara@pwc.com

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entity. Please see www.pwc.com/structure for further details. 463977-2018 pwc.com/blockchainsurvey