Although 20% seems like quite a little figure, for blockchain the poll was not all bad news. The optimists overcame cynics with over two-to-one answers when it came to individual views about the usefulness of blockchain.
Over 2/3 of coders think that blockchain is helpful. The queries were part of the annual exhaustive programmer likes and dislikes poll by Stack Overflow that is known to grade computer languages. The website has 50 million users per month.
In addition, 12.7% of programmers replied that institutions utilize blockchain for non-monetary applications, 4% for apps related to cryptocurrency, 2.1% take crypto as payments and 1.3% employs native cryptocurrency.
StackOverflow also asserts that coders in India are quite likely to state that blockchain technology is used by their organizations.
Nearly one third (32.4 %) categorized the technology as a gimmick or incompetent resource application. 29.2% of coders assume blockchain is valuable in several fields and could improve our quality of life in several ways. However, 26.2% believe the technology will be useful for record keeping, but has no benefit as a currency, and only 12.2% think it is effective for decentralized monetary applications.
15.6% of respondents said that they thought Blockchain to be an reckless utilization of resources, in a probable response to worries about the environmental impact of work-mining evidence, Finally, 16.8% think blockchain technology is really just a gimmick. The report states that the positivity about the effectiveness of blockchain technology focuses mainly on younger and not so much experienced coders:
“The more experienced a respondent is, the more likely they are to say blockchain technology is an irresponsible use of resources.”
According to a latest survey carried out by Big Four auditing firm KPMG, many tax and finance officials do not plan to implement blockchain technology. Another KPMG survey, reported at the end of February, reveals that 48% of C-level employees assume that blockchain will probably change their way of doing business in the coming three years.