Semiconductor Industry Most Bullish About Adopting Blockchain according to Accenture Report Finds

88 percent of executives expect blockchain to be integrated in their organization’s systems within three years — the highest percentage among 18 industries surveyed

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The semiconductor industry is expected become the most compelling sector when it comes to the integration of blockchain within their industry. The impact artificial intelligence and extended reality will have on peoples’ lives is huge, according to a new Accenture‘s (NYSE: ACN) report.

The report titled ‘Semiconductor Technology Vision 2018’ shows that nearly nine out of 10 executives expect blockchain to be integrated in their organization’s systems within the next three years — the highest percentage among all 18 industries surveyed.

According to the report, the technology’s secure, tamper-evident, and decentralized features can help semiconductor companies improve supply chain efficiencies, enhance technology-based corporate collaborations, and lower their operational costs.

“Throughout the industry’s complex supply chain, blockchain simplifies business operations leveraging semiconductor chips and related technologies,” said Syed Alam, a managing director in Accenture Strategy who leads Accenture’s Semiconductor practice. “This faster way of tracing 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.”

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Wieke Beenen

About Wieke Beenen

Writing has always been the red thread in my life. In the early 90's I attended the Journalism program at the School for Journalism in Utrecht and later the History and Journalism program at the RUG in Groningen. I spent a number of years working in the Caribbean boating industry as a first mate on several charter boats as well as in the island media writing about culture, flora and fauna. After moving back to the Netherlands I started my own translation business in 2005. After a short detour teaching kids English at several high schools, I'm now back doing what I like best, writing and editing content for Blockchain News.

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