Blockchain Technology: A Survey of Croatian Business Leaders

Abstract

Blockchain or distributed ledger technology emerged over ten years ago as the underlying technology of bitcoin. Blockchain is a special kind of database with individual records or blocks linked together in a sequential list called chain of blocks. These records are validated by multiple nodes in peer-to-peer networks and they are immutable. It is a decentralized system, with no need for intermediaries where all decisions are made using different consensus mechanisms. High expectations from blockchain technology, combined with a lack of deeper knowledge about the technology are expressed in the results from the survey conducted on a sample of Croatian C-level and middle managers from various industries. The results appear to indicate that Croatian business leaders perceive that we are still in the early phase of adoption with management expecting some disruption in the future but expecting it to occur mostly in the information technology and financial industry.