{"id":15770,"date":"2019-07-17T00:00:00","date_gmt":"2019-07-17T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/68-percent-of-firms-based-in-the-asia-pacific-region-lack-a-clear-understanding-of-blockchain-technology\/"},"modified":"2023-08-30T08:53:59","modified_gmt":"2023-08-30T08:53:59","slug":"68-percent-of-firms-based-in-the-asia-pacific-region-lack-a-clear-understanding-of-blockchain-technology","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/68-percent-of-firms-based-in-the-asia-pacific-region-lack-a-clear-understanding-of-blockchain-technology\/","title":{"rendered":"68 Percent of Firms Based in the Asia Pacific Region Lack a Clear Understanding of Blockchain Technology"},"content":{"rendered":"
According to a poll done by Ernst & Young<\/strong> during a blockchain live webcast, two thirds or 68% of firms in the Asian Pacific region lack an understanding of blockchain technology. Besides these shocking figures coming out through the poll, there are also myths associated with blockchain<\/a> <\/strong>technology.<\/p>\n At the center of all this skepticism about the integration of blockchain into their organizations is lack of a clear understanding of the technology, executives don’t know risks that come with it together with its benefits. With that, many are opposed to having blockchain technology implemented into their organization’s system.<\/p>\n The poll was conducted live and had 576 attendees from across Pacific Asia with attendees from Singapore<\/strong>, making up 13.7 percent of the total.<\/p>\n Although the above depicts the major hurdle that is pushing back integration of blockchain technology, the poll also came out with some positive results. 66% of poll participants would push for the inclusion of blockchain<\/strong> only if they know its benefits, risks, and have a clearer understanding of the technology.<\/p>\n While expressing his view about the poll’s results, Adam Gerrard<\/strong>, head of blockchain EY Asia-Pacific<\/strong> and EY LLP partner said;<\/p>\n