Banks could adopt blockchain technology as early as next year to generate new streams of revenue and enable secure transactions, reports CNBC and a study conducted by capital markets-focused financial markets’ research and strategic advisory firm TABB Group.
According to the research firm’s press release, the first use case is expected as early as the second quarter of 2016. The company says that its study pinpoints use cases for syndicated loans, interbank payments, corporate debt, private equity and OTC derivatives.
Banks’s adoption of blockchain, says the firm, has the ability to open entirely new markets for revenue generation.
TABB Group research analyst Shagun Bali said the blockchain technology has the potential to change the way the industry tracks, clears and settles many of the institutional capital markets electronic transactions, disintermediating the need for an independent third party. She said that the adoption of blockchain by banks is now a matter of when, not if.
https://coinreport.net/banks-could-adopt-blockchain-technology-by-next-year/
