Do Corporations Already Try To Withdraw Themselves From Blockchain?
Insurance is the business run by anxious people. KPMG’s report “Insurtech 10: Trends for 2019” seems to prove that trivial fact. It says: “Insurance must focus on a digital first approach”. It also says: “AI and machine learning … are expected to greatly enhance the digital ‘face’ of interactions with customers.” However, the word “blockchain” is mentioned only three times in this 36-pages manuscript.
Citing: “And though blockchain is already present within certain insurtech
systems … there is a lot of work that needs to be done at a more basic level — the cultural shift would be a large project without any technology dimension added to it (zic!). Therefore, it would be easy to overplay its role in the next couple of years.”
Authors, obviously, do not intend to deny the fact that DLT might significantly boost industry’s efficiency. For example (citing the report): “Access to better quality healthcare data offers the possibility of a future where secure patient records can be shared in order to settle claims simply and easily, as is beginning to happen with flight delays and lost baggage.”
Nonetheless, immediately after that, right in the next sentence, authors hurry to discard their own claim (citing): “ … and though Estonia is leading the charge with all health records stored in blockchain, that will have to remain aspirational for some time.” However, authors do not provide any real explanation, except recurring to a meaningless phraseology, why, suddenly, they become so cool about the future prospects of blockchain.
At the same time, KPMG’s own “Corporate Blockchain Adaption” survey (reviewed in this group) showed that among 740 tech companies’ executives more than 40% are “very likely or likely” to “implement blockchain technologies in the next three years”. So, what has really changed since that report was released in May to alter KPMG position so dramatically?
If it’s not the proverbial “cautiousness” of industry professionals, then it seems to be Libra. Of course, it also may be just a coincidence, but it also might be one of the first sign of main-stream corporations obediently reversing their stance on DLT in the view of world’s regulators predominately very negative or negative reaction on a first really significant attempt to bring crypto-currencies (and DLT) to mass-adaption (of course, more “by association” then directly).
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