It turned out that the blockchain technology sector has been hit harder than others due to COVID-19 circumstances. The volume of investments in blockchain projects amid the coronavirus pandemic decreased by 63%. The result was the worst among other areas related to new technologies. This conclusion was made by KPMG specialists during their research on the situation in the sphere.
According to analysts, the blockchain sector will be able to catch up in the next 12 months. Experts believe that the technology will enter the top 5 most actively developing areas within a year. As a result, the volume of investments in the blockchain will increase significantly.
The opinion of the KPMG team is based on a survey of 900 CEOs of the largest public companies with annual revenues of over $ 1 billion, included in the Forbes Global 2000 rating. As they studied the opinions of people working for these organizations, experts concluded that they are trying to improve their business after the pandemic. New technologies can become a tool to achieve the goal. According to KPMG experts, the benefits of modern technical solutions can make companies invest in blockchain projects.
At the same time, the survey showed that most of all managers value the benefits of changes brought by the automation of processes to their business. Only 28% of respondents managed to evaluate the advantages of blockchain technologies.