Want to know more about the blockchain scene? We did a survey on 150+ people across 20 industries to understand the potential for blockchain Technology in Bahrain’s market. By understanding the attitudes surrounding the emerging role of blockchain technology, the survey reveals an interesting set of results for the implementation of blockchain technology in Bahrain.
To bridge the gap in knowledge; we have GetSmarter, Blockchain Academy.global, and University of Oxford, Saïd Business School at BlockOn to increase the level of awareness on the basics of blockchain technology. A majority of the respondents are in the introductory stage of understanding blockchain technology. So far, FinTech companies appear to be the top user of blockchain technology. However, blockchain technology has great potential to disrupt additional industries. Top industries that can potentially implement blockchain technology for their operations are;
Within these industries, the top operational uses of blockchain technology are Know-Your- Customer (KYC), smart contracts, and initial coin offering. By 2020, as blockchain technology is expected to gain traction, the key operations of focus will become cross-border P2P payments, insurance claims, and voting. While blockchain technology brings about many benefits, industries have expressed reasons for not adopting blockchain technologies within their operations;
The extent of blockchain technology’s impact in Bahrain’s market is relatively low in comparison to global standards
BlockOn aimed to educate the attendees on the transformational capabilities of blockchain technology and how it can impact you and your business. Through our seminars, panels, keynotes, and workshops; we are invested in spreading awareness on blockchain. We hope that through this conference, we set the stepping stone for long-term blockchain adoption in Bahrain.