Blockchain can be thought of as an overarching concept that includes many different technologies and applications. Blockchain is a digitized decentralized ledger to allow record keeping of all peer-peer transactions without the need for a centralized authority. The blockchain concept can be compared to the Internet which similarly has a variety of underlying technologies and applications. Continuing this parallel, some experts believe blockchain may have as great a transformation on business as the Internet. Blockchain has the potential to replace central banking platforms and other use cases including business process improvement, trades, and health information. Cryptocurrency also is enabled through blockchain technology such as Bitcoin and Ethereum. Blockchain technology uses peer-to-peer networking without the need for a centralized server, and instead, the blockchain exists across an entire network of computers. Using the distributed database system through blockchain, a digital ledger of all transactions across a given network is verifiable by anyone computer on said network removing the requirement for a central authority.
Data is based on a survey conducted by Deloitte between February 8 and March 4, 2019, primarily as a research vehicle to gain greater insights into overall attitudes and investments in blockchain as a technology. The survey polled a sample of 1,386 senior executives in a dozen of countries at companies with US$ 500 million on annual revenue for US respondents and at companies with US$ 100 million or more in annual revenue for respondents outside the United States. Also administered the survey to executives at a group of 31 blockchain emerging disruptors to gauge their attitudes and investments in blockchain as a technology.