In 5-10 years, cryptocurrencies will replace fiat currencies

A survey conducted by renowned accounting firm Deloitte shows that blockchain technology is becomingmore and more priority among companies.

Almost 40% of the largest technological respondentsWorld companies currently use blockchain in their production, and about 90% are sure that the value of this technology will only grow in the next three years.

The survey was conducted from February 6 to March 3, 2020. 39% of 1,488 senior managers and practitioners from 14 countries said that they already use blockchain technology in their companies, which is 16% more than in 2019.

The survey showed that the number of companies that prefer blockchain technology and the potential of digital assets is growing.

“Almost 89% of respondents said that in the next three years the value of digital assets will grow”, — says the report.

According to a Deloitte poll, 82% of respondents saidthat over the next 12 months they are going to recruit people "with experience with blockchains." Nearly the same percentage of executives said they were frightened by the loss of competitive advantage in the market if they did not start using blockchain technology.

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However, not all answers about blockchain technology werepositive. The survey also showed that 54% of respondents believe that the value of the blockchain is exaggerated. It is interesting that in 2018 and 2019, 39% and 43% of respondents thought so.

China stands out

Deloitte also noted that the levelThe adoption of blockchain technology in some countries is already quite high. For example, 31% of US respondents said they already have a blockchain in production, while the same figure in China reached 59%.

Cryptocurrencies and digital assets are getting biggermore popular in Asian countries. 94% of respondents from China said they were “somewhat” and even “strongly” determined that over the next 5–10 years, digital assets would become an alternative to fiat money and even replace it.

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