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Accenture: Semiconductor Industry Most Bullish on Blockchain

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Accenture blockchain semiconductor

Blockchain technology continues to permeate global industries, according to a recent Accenture survey.

Just starting out, its primary focus what on financial technology, banks and financial service providers.  However, as the technology develops, and as its adoption increases, its making its way into every conceivable sector.  One of the biggest ones that’s quickly turning bullish on blockchain is the semiconductor industry.

In fact, the semiconductor may have the most to gain from blockchain technology

According to an Accenture survey, the industry is strongly considering integrating with the technology.

For example, the “Semiconductors: Fueling the Industry’s Future as Never Before” report note that 88% semiconductor executives expect to see blockchain integration in the next three years.  In fact, it’s the immutability, security and decentralized nature of blockchain that make technology interesting to the semiconductor industry.  Not only can blockchain assist with supply chain efficiency improvements and improving inter-corporation collaboration, it can help reduce operational expenses.

“Throughout the industry’s complex supply chain, blockchain simplifies business operations leveraging semiconductor chips and related technologies.  This faster traceability will improve companies’ business operations and accelerate delivery of their products to market – while enabling them to do so at lower costs. Semiconductor companies can also use blockchain to create, scale and manage technology-based collaborations and redefine future business transactions.”

According to Accenture, Other Industries are Interested in Blockchain, too

Accenture also finds that aerospace, defense, life sciences, industries, insurance, software and platforms, and automotive have interest, too.

For example, in the aerospace and defense sector, 86% of the executives are optimistic about the adoption of blockchain technology in the industry. Life sciences, retail and industrial equipment sector optimism is up to 85%.  Insurance and software and platforms sectors saw optimism as high as 84%.

Even the automotive sector is seeing 82% interest, says Accenture.

In fact, with regards to the auto industry, four of the biggest automakers are part of a group working to bring blockchain to your car. BMW, Ford and General Motors are among the companies that are part of the Mobility Open Blockchain Initiative.  Their mission is to speed the adoption of blockchain.

Even Amazon, Apple, Google and Microsoft are making moves into connected cars, which would rely on the technology.  “This is a tectonic shift in the tech landscape, that has the potential to disrupt the growth plans of legacy tech into the auto,” says Brian Kelly, founder and CEO of BKCM, as quoted by CNBC.



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