Blockchain: 65% of banks expect to adopt technology in … – the Journal BIT, computers for all.

In practice, solutions of the blockchain serve to carry out transactions with values, whether financial or not, within a secure system, involving operations with banks and notaries. The study of the IBV shows that commercial solutions in the area of finance, are being rapidly adopted by banks and financial institutions of the form more rapid than initially foreseen.

The research, which was divided in two parts, reveals that 15% of banks and 14% of financial institutions surveyed plan to implement already in 2017 the commercial solutions of blockchain on a large scale. The study also found that more than 70% of the pioneers in the adoption of technology are giving priority to efforts in the blockchain to break down the barriers today, with the aim of developing new business models and to reach new markets and consumers. These pathfinders are better positioned against the competition, which includes companies that have been disruptive, such as fintechs, says the IBV.

For seven out of 10 financial institutions of the vanguard interviewed, the use of blockchain can now be applied to four strategic areas: clearing and settlement, payments of large amounts, equity and issuance of debt, and transactional data.

According to the study of IBM, the pioneers believe that this technology represents the creation of new business models and access to other markets. Expect that the benefits have an impact in many areas of business, including payments in retail (80%) and loans (79%).

When questioned about the potential uses of the technology, 80% have identified trade finance, commercial lending and reference indices. The same public agree that the barriers that prevent a more rapid evolution of technology are the regulatory restrictions (56%), immaturity technology (54%) and return on investment (52%).

The first survey, "Leading the Pack in Blockchain Banking: Trailblazers Set the Pace (1)" was carried out with 200 global banks. The second, "Blockchain Rewires Financial Markets: Trailblazers Take the Lead (2)," was carried out with 200 global financial institutions.