As the Davos Summit kicks off, industry leaders are projecting their views on the various sectors, and a lot of buzz has been created around blockchain and cryptocurrencies as many are addressing their views – good or bad – on the decade-old industry.
According to research by the Global Blockchain Business Council (GBBC), 26 percent institutional investors around the world believe that major listed companies will have to start proactively reporting on their plans and ambitions around blockchain.
The study further revealed that 38 percent of investors are anticipating that the companies have to plan for blockchain implementation in the next three to five years while 13 percent are skeptical about the technology.
The GBBC is a blockchain lobby aiming to bring together the world’s leading businesses and business leaders to highlight the latest innovations and advances in blockchain technology.
The organization further believes that in the coming years, some companies will start to appoint blockchain heads on their board of directors as its survey found out that five percent of the institutional investors want the same in next two years, while 26 percent think this type of appointment will begin in next five to ten years.
In another recent survey, the same organization revealed that 63 percent of institutional investors are certain that senior business executives have a poor understanding of blockchain technology.
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“There is little doubt about the potential impact blockchain can have on most sectors and key areas of everyday life. Increasingly, the winning organizations of the future will be those that have a clear and comprehensive strategy for blockchain and those that are committed to implementing and using it to transform their organizations,” said Sandra Ro, CEO of the GBBC, while speaking at Davos.
“It is perhaps not surprising that investors will soon want to know what companies are doing in this area, and that they have confidence in the executives chosen to implement the programmes.”
Bitcoin “will Go to Zero”
Though many of the investors and executives are bullish about the technology, the same cannot be said for Bitcoin and other digital assets.
At a CNBC-hosted panel at Davos, Jeff Schumacher, founder of BCG Digital Ventures, said “I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything.”
Schumacher’s statement is odd considering his investments in many blockchain-based companies.
“I am much less interested in investing around bitcoin as a currency unit or a currency equivalent, or even the blockchain as an accounting ledger. I am thinking much more about the protocols. In other words, what is the underlying protocol going to do as a consequence of which, which tokens are valuable or not,” said Glenn Hutchins, chairman at North Island.