The CX Blockchain Institute Annual Report Reveals Blockchain's Disruptive Impact on CX Industry

The CX Blockchain Institute, the worldwide authority dedicated to fulfilling blockchain in the customer care industry, today announced the release of the 2022 CX Blockchain™ Market Intelligence Report, which details the disruptive impact blockchain technology is having on customer experience dynamics across multiple industry verticals.

The research report, commissioned by GBS World on behalf of The CX Blockchain Institute, covers blockchain use in contact centers and business process outsourcers industry-wide and across four key verticals: banking/financial services/insurance (BFSI), healthcare, retail, and telecom. It reflects diverse viewpoints and opinions, supported by relevant analyses, and presents an accurate picture of current blockchain use in the CX industry.

"We are extremely excited to reveal the findings of this year's report," said Shelli Ryan, Founder and Principal, The CX Blockchain Institute. "It takes a deep dive into the impact of a technology trend massively disrupting every industry, including contact centers and BPOs."

The 2022 report compares findings against the 2019 edition, highlighting key differences and top concerns. Several important results include:

• The shift from how blockchain influences contact center agent empowerment and streamlining of administrative processes to cost savings and improving efficiencies.
• For BPOs, delivering greater governance and regulatory compliance remains the same motivation as in 2019.
• Providing a more personalized patient CX journey is now a top priority for the healthcare industry. The 2019 edition forecasted that patient access to and control of health data would be a dominant theme today.
• Data security surfaced as a top priority in BPOs, and among the BFSI, retail, and telecom verticals due to the tamper-proof nature of blockchain technology to reduce fraud and data loss risk. Combating credit card and financial fraud and addressing cybersecurity issues and malicious data-mining ranked highly for banking.
• Blockchain's ability to provide entire, real-time transaction, service, and warranty data to agents was a draw for retailers, confirming the 2019 forecast of addressing consumer expectations around payment, order processing, and delivery time.
• Telecoms also reported cost reduction and increasing revenue streams as top motivations to offset heavy industry competition.

"Despite varying priorities among verticals, both the 2019 and 2022 editions of the study confirm that businesses recognize blockchain's potential to transform operations and improve CX," said Mark Angus, CEO of Genesis and GBS World, the report's researcher and editor. "The primary difference is that after years of research, planning, and testing, companies are moving from the awareness stage and beginning to deploy blockchain solutions in mission-critical ways to streamline processes, reduce costs, enable security and improve transparency."

The 2022 CX Blockchain™ Market Intelligence Report is available for download from The CX Blockchain Institute website.

_{Author: The CX Blockchain Institute}