WHEN it comes to blockchain solutions, over two-thirds or 68 per cent of Asia-Pacific companies lack understanding and education on its application, according to a Ernst & Young poll.
EY conducted the poll during a live blockchain webcast with 576 attendees in Asia-Pacific, with 13.7 per cent from Singapore."Trust is a key factor and current barrier for companies in Asia-Pacific. Understanding and education is required to build trust and confidence with aspects of a business,” said Adam Gerrard, partner at Ernst & Young LLP, and EY Asia-Pacific Assurance blockchain leader.
The next most common myth about blockchain Asia-Pacific firms have heard is that it is not as"unhackable" as believed. It is found that 51 per cent of attacks occur when a single entity gains control over 51 per cent of the network hash-rate, which refers to the processing power of the network.
Source: News Formal (newsformal.com)
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