40 percent of institutional investors believe that blockchain can be the most important innovation in human history since the inception of the Internet.
Such conclusions result from a study conducted by the Global Blockchain Business Council (GBBC) trade association. There were as many as 71 investors questioned, and the organization asked about several issues related to blockchain technology. The results of the survey were presented during this year’s World Economic Forum (WEF) in Davos.
The GBBC study revealed that 40 percent of institutional investors believe that blockchain “may be the most transformational technology since the Internet.” In addition, almost a third of them are of the opinion that companies will have to recruit blockchain department heads to their boards for a maximum of 5 years. 38 percent also think that large companies will be forced to reveal their approach to new technology to investors. It will probably also affect their stock market valuations.
“There is no doubt about the potential impact of blockchain on most sectors and key areas of everyday life,” said Sandra Ro, president of GBBC, which is quoted in the press release. In her opinion, “the winning organizations of the future will be those that have a clear and comprehensive strategy for the blockchain” and that will “implement and use it to transform their organizations.”
A similar survey conducted this week revealed that institutional investors believe that 63 percent of senior management staff are characterized by a limited understanding of this technology.
The fourth revolution
Klaus Schwab, professor at the University of Geneva, published in 2016 the book “The Fourth Industrial Revolution”, which in the past year was also published in Poland.
The publication includes, for example, the issue of bitcoin and blockchain. According to prof. Schwaba’s critical moment in the development of cryptocurrencies and their technologies will be the period when 10% of global GDP will be stored in the blockchain network. The economist’s research has shown that as many as 58% of respondents believe that this moment will occur up to 2025.
Blockchain can revolutionize the functioning of states. Here, the “critical moment” is to collect all sorts of taxes through a network of blocks. The persons examined by the professor also in majority (73%) believed that this breakthrough will take place by 2025 at the latest. The network of blocks “creates opportunities and challenges for the states.” Blockchain “is not regulated or supervised by any central bank (…) “. In addition, “opens up the possibility of incorporating new tax mechanisms (…).”