The promise of blockchain is often described as a, “transfer of trust in a trustless world.” The distributed ledger technology eliminates the need for centralized third parties to verify transactions, and all participating parties are anonymous. It is incredibly difficult to hack and less vulnerable to breaches, yet it is ironically a ‘lack of trust’ in blockchain that may be its biggest hurdle.
PwC’s Global Blockchain Survey 2018 found that while 84 percent of the 600 respondents’ companies are investing in the technology, 45 percent of respondents believe that lack of trust among users will be a top barrier to blockchain adoption.
