qiibee x EY Blockchain Summit – Survey Results

Industry, News

Why did we do the survey and what is the EY Blockchain Summit?

The EY Blockchain Summit aims to inform interested individuals about the potential use of blockchain and showcase some of the key results from relevant topics.

More than 100 C-level execs were interviewed and asked 20 multiple-choice questions. Some of the significant topics discussed included: the fears of adopting the blockchain, reasons to adopt the blockchain, cryptocurrencies/blockchain traceability, and the use of NFT technology.

We are conducting this survey to find out what technologies the top C-Level execs are looking at, as a means to better understand the market. Since a whopping 89% of C-level executives stated they plan to invest in new technologies including the blockchain. Making it even more important to better understand how ready these executives are for the future as well as how they are preparing for it! Check out some of the key results below.

Key Results of the Survey

Which technologies are C-Level executives most likely to adopt?

EY x qiibee Blockchain Survey Q3

What are the top fears/doubts that come with the adoption of Blockchain?

  • Top Voted Fears:

    • Lack of know-how

    • Lack of right skillset

    • Privacy

    • Security

    • Traceability

    • Efficacy

    • Level of trust

What are the primary ambitions for blockchain adoption?

EY x qiibee Blockchain Survey Question 8

Do you support the use and/or use cryptocurrencies?

  • 73% of C-level execs voted NO, that they wouldn’t use cryptocurrencies
  • 27% voted YES, that they have or are planning to use cryptocurrencies
  • Some of the reasons why participants voted NO:
      • Cryptocurrencies are associated with fraudulent activities

      • They are a volatile asset

      • Low adoption

      • The market isn’t mature enough

      • Lack of traceability

NFTs, just a temporary hype or a topic of the future?

  • 41% voted YES

    • Some of the utilities for NFTs stated by these execs included: Marketing, Play to Earn/Gamify, Collectibles

  • 33% voted NO

  • 26% didn’t know what NFTs are

Key Takeaways (TL:DR)

  • 89% of C-Level Executives are ready to invest in technologies of the future including blockchain with another 41% stating that NFTs are here to stay and have long-term potential.

  • Some of the notable fears of adopting the blockchain included: lack of know-how, lack of traceability, privacy, and security among other things.

  • The top 3 primary utilities of adopting blockchain as stated by the C-level executives, included: Token Economy, Traceability, and Business Relationships Through a Smart Contract.

Take advantage of our loyalty solutions and scale your brands loyalty program to the future using the blockchain. We are here to revolutionize the loyalty scene and through our various surveys, reports and content pieces we want to show you the potential of loyalty in combination with an evolving technology like blockchain. As always stay loyal and tune into our socials as there will be a post every day!

qiibee is the global standard for loyalty on the blockchain

We offer you the future. The untapped potential of loyalty at the tips of your fingers. Trustless interoperability. Enhanced security. One universal truth within your database.

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