15% of banks to implement blockchain in 2017: survey
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Fifteen percent of banks and 14 per cent of financial market institutions intend to implement full-scale, commercial blockchain solutions in 2017, according to two new IBM studies.
Roughly 65 per cent of banks expect to have blockchain solutions in production in the next three years, said the studies titled "Leading the Pack in Blockchain Banking: Trailblazers Set the Pace” and "Blockchain Rewires Financial Markets: Trailblazers Take the Lead". The first is based on a survey of 200 global banks while the second is based on a survey of 200 global financial markets institutions.
"There are many advantages to being an early adopter of blockchain technology,” said Sawat Asdaron, country manager, Financial Services and Insurance Sector, IBM Thailand Co Ltd. “To start, first movers are setting business standards and creating new models that will be used by future adopters of blockchain technology. We’re also finding that these early adopters are better able to anticipate disruption, fighting off new competitors along the way.”
Blockchain is the technology that supports digital currency transactions. IBM is active in offering blockchain solutions.
