Irish University Study Asks the Gov’t to Promote Blockchain in Ireland

Irish Times Reports

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National University of Ireland (NUI) Galway authors linked to the blockchains adoption in Ireland, asked the government to involve itself in the promotion of technology in the country. This is as it was reported by the Irish Times on 11th May.

The study, therefore, makes a proposal of the various recommendations meant to make sure that adoption and awareness of Blockchain are increased. Therefore, these can have positive impacts especially on the economic growth and also have an establishment of how the Irish organizations and the government carries out business.

Therefore, Dr. Trevor Clohessy based in NUI Galway requested the government to help in the promotion of Blockchain in Ireland through national initiative development.

“…Beyond business, other beneficial uses of this technology would be in voting machines and ballot boxes to address electoral fraud and potentially looking at a Blockchain enabled technology-controlled border identification system that could provide a possible solution to the current North/South Brexit border challenges.”

The study had the title “The adoption of Blockchain in Ireland: Examining the influence of organizational factors” and it was carried out by the NUI Galway together with the Blockchain Association based in Ireland. Therefore, it was meant to determine the factors which influence the decisions by corporations in the adoption of Blockchain. Therefore, in regard to the findings, around 40% of the businesses based in Ireland use blockchains technology which is a very low rate as compared to the researchers expectations.

Therefore, the major factors which affect the adoption of Blockchain were the organizational readiness, in-house expertise, top management support, and legislative uncertainty.

Ireland ranks 13th in the Bloomberg 2018 Innovation Index with the advancement of IT infrastructure, high productivity and also the value-added manufacturing. Just recently, Ireland has been the hub for the Blockchain and the fintech business.

Additionally, in a study which involved the various financial executives globally, the Financial Executives Research foundation got the results that around 30% of the financial executives “plan to commit resources to Blockchain within the next year and a half…”

Just last month, MasterCard made an announcement that it would hire professionals, for example, the information security experts, data scientists, software engineers and also Blockchain specialists to be based in Dublin.

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