China Is To Seize the US Blockchain Initiative. 15 Countries' opinion

A few days ago PricewaterhouseCoopers, a company included in "Large four", completed the large research sanctified to the barriers of blockchain technology distribution in business environment. It was named as “Blockchain is already here. What is your next move?”. According to the company’s data about 600 leaders of large projects from 15 countries of the world took part in the survey.

The enterprises’ representatives from Great Britain, USA, Germany, France, Denmark, Sweden, Italy, Singapore, UAE, Hong Kong, Japan, India, China, Australia and Netherlands got a chance to have a conversation about their personal vision of blockchain and prospects of industry’s development. Opinions, varied on the situation, had little in common as the leaders mentioned different sectors for the most perspective development of that technology in the future.

About 46% polled gave the vote for financial markets, 14% voted for the sphere of health protection and 14 % went for power industry. Minority, only 12%, expressed its confidence in the blockchain development blossom on productions. A prospect was made on the nearest five years.

Experts who were taking part in research marked that the vector of blockchain powered projects in the nearest 3-4 years will be displaced from America to China. Now China falls behind from the USA on 11% as the United States occupies 29% of world development market.

From  the polled respondents 84% is engaged in creation of their own projects and initiatives. Other leaders, participated in research, work for long-term digital projects. 25% (126 persons) are the owners of different initiatives in this sphere.

Barriers of blockchain implementation among enterprise initiatives, educed during the research, are:

• Regulation vagueness

• Subzero indexes of users’ trust to any blockchain

• Absence of possibility to associate all the networks

• High risks

According to Steve DAVIS, head of PricewaterhouseCoopers (blockchain PWHC), a basic problem now is an absence of trust. “The leaders of business-projects express uncertainty in blockchain and underline that they do not want to lose competitive edges on constantly changing market. In spite of the fact that blockchain on the determination must be suggested as a  trustworthy tool for users, large companies constantly run into absence of trust to finish good”, - Davis mentioned.

By the way, a month ago a research which was conducted by the institute at the ministry of industry and information technologies of China and corporation Tencent Holdings issued a statement about the blockchain technology in a financial environment.  There is some information about creating a technology of the up-diffused register, that must improve transparency of any financial transactions and obtain a complete processes automation. Probably, in the nearest 5 years it will allow to promote the level of trust to blockchain from the side of business’ representatives.