83% of life science execs expect to adopt blockchain within 5 years, survey finds

Twenty-two percent of life science executives are experimenting with blockchain, although the number is expected to grow within five years, according to a The Pistoia Alliance survey.

For the survey, the nonprofit alliance asked pharmaceutical and life science leaders about their attitudes toward blockchain deployment.

Here are four survey insights.

1. The majority of respondents (83 percent) expect to adopt blockchain technologies within five years.

2. Challenges like regulatory issues (45 percent) and data privacy (26 percent) currently stand in the way of implementation, according to respondents.

3. Sixty-eight percent of respondents said the No. 1 area blockchain will have a significant impact on is supply chain.

4. The second most commonly cited area respondents said blockchain would impact is medical record storage (60 percent).

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