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

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.”

Wieke Beenen
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