[2016-09-28] NDTV: Banks Adopting Blockchain 'Dramatically Faster' Than Expected

Banks Adopting Blockchain 'Dramatically Faster' Than Expected: IBM

http://profit.ndtv.com/news/tech-media-telecom/article-banks-adopting-blockchain-dramatically-faster-than-expected-ibm-1467746

Banks and other financial institutions are adopting blockchain technology "dramatically faster" than initially expected, with 15 per cent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday.

The technology company said 65 per cent 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.

IBM, whose findings were based on a survey of 200 banks, said the areas most commonly identified by lenders as ripe for blockchain-based innovation were clearing and settlement, wholesale payments, equity and debt issuance and reference data.

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