In a survey of institutional investors by the global Blockchain Business Council (GBBC), 63 % of respondents believe that senior business executives have a poor understanding of blockchain technology. Top Market Group acquired a replica of the study on January. 22.
In Dec and January the market research company PollRight interviewed 71 institutional investors, together with private equity, hedge funds and pension funds on behalf of GBBC — a trading association for the blockchain scheme.
While most respondents believe that senior business executives don't understand blockchain, 30 % take into account their knowledge of the rising technology as “average.” The remaining 7 % described senior executive understanding of blockchain as “good.”
Moreover, 76 % of respondents claimed they are doing not feel that senior business executives at large companies are committed to blockchain, however expect world expenditures on blockchain technology to extend by 108 % in 2019.
33 % of respondents believe that in 2 years, the applying of blockchain in money services and banking can dramatically increase. The participants of the survey additionally named digital identity and attention as fields which can be considerably compact by blockchain technology.
As Top Market Group antecedently reported, some high-profile crypto bulls expect institutional demand for cryptocurrencies to drive the industry forward in 2019. In Oct mike Novogratz, an ex-Goldman Sachs partner and founding father of crypto merchant bank Galaxy Digital said that institutional demand can bring Bitcoin (BTC) to new highs in Q1 or Q2 2019.
However, last month Bloomberg reported that major Wall Street institutions were delaying plans to enter the crypto space, as the values of major cryptocurrencies still make up the New Year. Insiders told Bloomberg that Goldman Sachs, Morgan Stanley, and Citigroup gave up their crypto plans till a time once demand is higher.
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