Deloitte’s ‘Innovating in the Digital Era’ report mentioned that blockchain along with virtual and augmented reality, are among the technologies that will impact the Irish business.

The theme of the report which was published earlier this year is ‘Innovating in the digital era’. The report spoke about blockchain mentioning that, the technology likely to have significant impact on business in the coming years as their use grows are identified in the report.

According to irishexaminer.com, Deloitte Partner Simon Murphy said that, “Chief information officers [CIOs] are expected to harness emerging trends and innovate to create real business value, all the while building from the realities of today — modernizing core systems, industrializing analytics capabilities and using autonomic platforms to transform, not just IT operating models, but the very infrastructure upon which they run.”

Blockchain technology which is increasingly being used as a distributed ledger system among financial services firms is set to make a major impact in the business sector. The report also stressed saying that, augmented and virtual reality is where the future of mobile lies.

Talking about business, Murphy said that business leaders will need to secure adequate budgets and make smart investments to implement the change.

Last month, Deloitte created a financial services blockchain lab in Dublin. The new development space is part of Deloitte’s FinTech initiative called the 'The Grid', which constitutes a network of labs around the world.