A shocking new fact has been revealed by a recent survey conducted by Stack Overflow on developers. The results of the survey claim that the more experienced developers don’t believe in the technology, and additionally, most companies are yet to adopt the technology.
If we look around, blockchain is the buzz word in the market at the moment. Its popularity is on the rise and most big companies are experimenting with it in some capacity. However, the survey shows a different picture altogether.
According to the survey conducted by Stack Overflow on 48,175 developers, who were the respondents, 80% stated that their companies haven’t yet embraced blockchain technology, 12.7% said that their companies have been applying blockchain, but not cryptocurrency, and only 4% claimed the implementation of cryptocurrency-based products in their companies.
Only 2.1% of the respondents revealed that their companies accepted Bitcoin or other cryptos as a viable payment, and only 1.3% claimed to have their own cryptocurrency.
In the context of blockchain technology, the results were quite shocking. Out of 60,165 developers, 29.2% believed that the technology is applicable in various domains and has the potential to change people’s lives, 26.2% said it’s only useful for “immutable record keeping outside of currency”, and 12.2% narrowed its use down to just cryptocurrencies.
Additionally, 16.8% thought blockchain is only “a passing fad” and 15.6% claimed it to be “an irresponsible use of resources”. This is a clear indication that the market is not yet ready to adopt blockchain technology or play around with it.
The survey report surprisingly also revealed that the more experienced the developers are, the more likely they blockchain as “an irresponsible use of resources”. It seems like senior developers are yet to get behind this technological revolution. We hope to see greater acceptance for the technology in the future, especially from big corporations.