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Tuesday, May 18, 2021
Home News Euromoney Financial Industry Survey: Majority Recognise Blockchain Transformational Capability

Euromoney Financial Industry Survey: Majority Recognise Blockchain Transformational Capability

Out of the 151 institutions – comprising banks, their issuing and investing clients, tech companies, law firms and regulators – that answered Euromoney’s questions on the Blockchain in 2015 more than half think that it will transform banking fundamentally. 

Euromoney conducted the survey in December and published the results here.

More than half of all respondents think blockchain technology will transform banking fundamentally, while another third think it will be an important technological tool for improving efficiency, though perhaps not utterly disruptive.

Only one in eight think that either it is just hype and will not have much effect or that it should be characterized just as one new technology among many others. Two thirds of all respondents believe that most business will be done on permissioned blockchain networks, created, controlled and verified by industry incumbents, with less than one in 10 believing that the public blockchain behind bitcoin – the only one currently up and running – will be the main venue for wholesale financial transactions. 

euromoneychart

Not a single respondent from any bank believes that banking business will go on the bitcoin blockchain. 

Asked which businesses are most likely to be transformed by the blockchain, 11% suggest trading of securities as smart contracts, 14% suggest clearing and settlement and 18% payments, with 12% suggesting different use cases.

Full article can be read here.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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