Note from the CEO: Full speed ahead. Big Blue studies show that financial markets, institutions and fintech companies are ramping up blockchain development. Duh! Don’t know how much that study cost but they could read FintekNews for free. Oh wait, hello IBM marketing division, we have a deal.
“Blockchain solutions are rapidly being adopted by banks and financial markets institutions as they seek to anticipate disruption and stay ahead of fintech competition, according to IBM studies.
Released last week, the reports are based on two separate surveys. The first one, titled “Leading the Pack in Blockchain Banking: Trailblazers Set the Pace,” is based on a survey of 200 global banks. The other one, titled “Blockchain Rewires Financial Markets: Trailblazers Take the Lead,” is based on a survey of 200 global financial markets institutions.
They were conducted by the IBM Institute for Business Value with the support of the Economist Intelligence Unit and sought to explore the state of blockchain adoption in the financial markets and banking sectors.
According to the reports, more than 70% of early-adopters in banking are prioritizing blockchain efforts to break down current barriers to creating new business models and reaching new markets. The main areas of focus are reference data, retail payments and consumer lending.”