Why Blockchain Won't Be Connecting Banks in 2017
As the developers of MultiChain, a popular general-purpose blockchain platform, we've gained a fairly broad view of the types of applications that people are building on this new class of database. And we also have a sense of whether those applications are a good fit for blockchains as an architecture, and if so, how soon they are likely to move from proof-of-concept to pilot and production. For a startup with limited resources, these distinctions are crucial – they ensure that MultiChain's product roadmap is driven by genuine rather than artificial needs. One glaring example is....
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According to an IBM survey that gathered insights from 200 global banks, 15% of those banks could be running blockchain solutions as early as 2017. While 2016 is the year that has – already – seen blockchain prototypes tested and trialed, 2017 will be the year banks start putting blockchain solutions into implementation, according to a new IBM study. “Hurtling” Toward Blockchain. Released today, the study, “Leading the Pack in Blockchain Banking: Trailblazers Set the Pace”, conducted by IBM Institute for Business Value, summed up the interest in blockchain among the 200 banks it surveyed,....
2016 has been a rollercoaster year for those of us following blockchain and distributed ledger tech. Whether it was bitcoin pushing toward $1,000, a consortium of banks open-sourcing software with R3's Corda, or government and central banks supporting blockchain experimentations, you can't deny the subject has been everywhere. While some have grown tired of the endless press releases and bickering about ledger designs, in the background, real progress is being made, and major organizations are already placing their bets. In 2017, I’m watching for maturity in the active projects both from....
R3 CEV has announced that over 40 of the world’s biggest banks have recently experimented with five blockchain pilots that tested smart contracts and arbitrary business commands. Technology groups from these legacy banks considered these various distributed ledgers after viewing a previous test with the Ethereum blockchain connecting 11 lenders on the....
Banks and financial firms are planning to release commercial-grade blockchain services within the next two years, two surveys published today by IBM show. In total, 200 banks and financial markets operators, respectively, were surveyed about the current status of their work with the technology, and 15% of banks interviewed indicated that they see commercial-scale services coming online sometime before the end of 2017. Of the financial markets operators asked the same question, 14% suggested that they would have their own services online by that date. "In effect, 2017 looks to be the....
I can confidently say blockchain will be the most dynamic area in tech in 2017 – already, we're seeing some major players position themselves for a leap forward in the year ahead. Global banks like Santander and Goldman Sachs, for instance, recently announced they would not renew membership in the blockchain consortium they helped found, R3CEV – an example of increased investment from significant brands in finance, retail and supply chain, to name a few, in developing blockchain technology internally. Similar announcements are now happening regularly, building momentum for blockchain as a....