Blockchain: Why 200 financial institutions are adopting the technology
As the world moves to overcome the hype surrounding blockchains, financial markets institutions are among the first to leverage the decentralised blockchain platform to define their futures. The IBM Institute for Business Value with the support of the Economist Intelligence Unit surveyed 200 financial markets institutions in 16 countries on their experiences and expectations with blockchains. This executive report provides insights into the motivation and adoption patterns in financial markets, and most importantly, identifies that the industry is moving at a much faster rate than anticipated.
Summary of key findings:
- 14% of financial markets institutions expect to have blockchain in production and at a commercial scale by the end of 2017
- Institutions are expecting blockchains to lead to new business models in clearing & settlements, wholesale payments, and equity & debt issuance
- Blockchain investment will be heaviest in know your customer (KYC), clearing & settlements, collateral managements, reference data and corporate actions, as institutions look to solve problems around new regulations that could pinch their bottom line
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