Blockchain
Mazars publishes Tech Train study revealing global technological familiarity, investment and implementation levels
Mazars, the international audit and advisory firm, today announces the release of its new report “Are you missing the Tech Train? Global investment and implementation surrounding transformative technologies”. More than 600 C-suite executives based in six countries (China, France, Germany, India, UK and US) and working in different industries, sectors, and organisation sizes share insight on these game-changing technologies, their investment appetites, the barriers they face to technological implementation – and how to overcome them.
CHINA AND INDIA LEAD, FRANCE AND UK LAG
Familiarity: Leaders in China are the most familiar with these five key technologies (79%), followed by Germany (71%), India (69%), US (64%). France and the UK come bottom (53%, 44%.) AI is the technology most respondents feel familiar with.
Investment: Respondents in India have the greatest appetite for increasing the budgets they dedicate to these five technologies. France and UK respondents are most reluctant to increase their budgets (see Exhibit 2.)
Implementation: China and India are the most likely to have implemented at least one of the technologies and share the highest adoption rates for all five technologies. France and UK are the least likely to have implemented any of the technologies.
Sector splits
Insurance and manufacturing are the top sectors where the five technologies have already been implemented. Leaders in the public sector were least likely to have implemented any of the five – 50% of respondents working in the public sector said ‘nothing is happening’ with the five technologies.
Benefits and barriers
Cost savings (27%), business model transformation (26%) and improvements in quality (24%) are the top three expected benefits of the five technologies.
The most cited barriers globally to implementing technologies are: obtaining necessary financial resources (25%), finding talent and skills that can fully grasp and exploit the technology (23%) and market maturity (22%) – whether it’s the right time for an organisation to adopt the technology or not.
Guillaume Devaux, Partner, Head of Technology Sector at Mazars, comments: “Our findings show strong forward momentum in regard to these five game-changing technologies – with China and India leading the pack. Overall, familiarity levels are high, leaders see the impact these technologies can have, and they have plans to increase investment. But there are areas of concern and certain sectors and countries pale in comparison with others.”
Devaux adds, “Leaders who think they’re falling behind need to discover which technology will create significant competitive advantage for their organisation. They should remember that successful tech transformation journeys require broad backing – from a company’s leadership and the team at large. Leaders may set the vision – but they must work with others to realise it.”
SOURCE Mazars USA LLP
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
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Blockchain
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