Why 2017 is Crucial for Banks to Prove Blockchain Tech’s Worth
Prominent research organizations such as the World Economic Forum (WEF) have made ambitious predictions over the past year and outsold Blockchain technology to the general public. The WEC previously stated that 10 percent of the world’s GDP will be overseen by Blockchain technology which is currently being tested by leading banks and financial institutions worldwide. That is trillions of dollars managed by Blockchain technology. Overhyped. However, many argue that the Blockchain industry is exceedingly overhyped. So-called experts or analysts within the field of Blockchain fail to....
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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,....
“...this technology has the potential of bringing in millions of people who are currently excluded from economic activity.” So says Lesetja Kganyago, governor of the South African Reserve Bank (SARB), the country’s central bank. Speaking on the sidelines of the Davos conference in Switzerland with BizNews.com earlier this month, Kganyago remarked on the tech’s potential to improve conditions for financial inclusion. The governor has expressed openness toward the technology in the past, remarking in August that the SARB was “willing to consider the merits” of blockchain. Meanwhile, banks in....
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....
Everyone, from banks to Blockchain taxi startups, is convinced that 2017 will see the long-awaited global entry into decentralized tech. Beyond Bitcoin, alternatives like Ethereum’s smart contracts and Ripple mean that the applications for this new world of innovation are practically endless. No surprise then that fledgling businesses looking to unleash the “killer app” in the field are raising funds with ease. But which are worth taking a closer look at? Cointelegraph’s initial coin offering (ICO) roundup provides a look into some of the more interesting projects slated for funding in....
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....