Banks adopting blockchain ‘dramatically faster’ than expected: IBM

  • Banks adopting blockchain ‘dramatically faster’ than expected: IBM
  • “2017 looks to be the year banking on blockchains shifts from zero to sixty.”
  • LONDON (Reuters) – Banks and other financial institutions are adopting blockchain technology “dramatically faster” than initially expected, with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday.
  • “The industry is hurtling toward blockchain adoption far faster than many expected,” IBM said in its report.
  • “First movers are setting business standards and creating new models that will be used by future adopters of blockchain technology,” said IBM Banking and Financial Markets general manager Likhit Wagle.

By Jemima Kelly LONDON (Reuters) – Banks and other financial institutions are adopting blockchain technology “dramatically faster” than initially expected, with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday.
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Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years

  • (2) “Blockchain Rewires Financial Markets: Trailblazers Take the Lead,” IBM Institute of Business Value (IBV), September 2016, ibm.biz/blockchainfm
  • A second new IBM study, “Blockchain Rewires Financial Markets: Trailblazers Take the Lead (2),” is based on a survey of 200 global financial markets institutions.
  • “To start, first movers are setting business standards and creating new models that will be used by future adopters of blockchain technology.
  • ARMONK, N.Y., Sept. 28, 2016 /PRNewswire/ — Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two new IBM (NYSE: IBM ) studies.
  • Conducted by the IBM Institute for Business Value (IBV), the banking study revealed that more than 70 percent of trailblazers surveyed, or early adopters, are prioritizing blockchain efforts in order to break down current barriers to creating new business models and reaching new markets.

ARMONK, N.Y., Sept. 28, 2016 /PRNewswire/ —   Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two …
Continue reading “Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years”

Banks adopting blockchain ‘dramatically faster’ than expected

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‘Banks adopting blockchain ‘dramatically faster’ than expected – IBM’ on Yahoo Finance UK. Banks and other financial institutions are adopting blockchain technology “dramatically faster” than initially expected, with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday. The technology company said 65 percent of banks expected to have blockchain projects in production in three years’ time, with larger banks – those with more than 100,000 employees – leading the charge. Blockchain, which originates from digital currency bitcoin, works as an electronic transaction-processing and record-keeping system that allows all parties to track information through a secure network, with no need for third-party verification.
Continue reading “Banks adopting blockchain ‘dramatically faster’ than expected”

Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years

  • (2) “Blockchain Rewires Financial Markets: Trailblazers Take the Lead,” IBM Institute of Business Value (IBV), September 2016, ibm.biz/blockchainfm
  • A second new IBM study, “Blockchain Rewires Financial Markets: Trailblazers Take the Lead (2),” is based on a survey of 200 global financial markets institutions.
  • As the market evolves, blockchain technology may add at least one new revenue stream; the potential to monetize reference data looms large.
  • IBM is advancing the science of blockchain, helping to remove complexity, and making it more accessible and open.
  • “To start, first movers are setting business standards and creating new models that will be used by future adopters of blockchain technology.

ARMONK, N.Y., Sept. 28, 2016 /PRNewswire/ —   Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two …
Continue reading “Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years”