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September 29, 2016 02:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/bt7GJZY50S4/banks-adopting-blockchain-dramatically-faster-than-expected
Banks Adopting Blockchain 'Dramatically Faster' Than Expected
Banks and other financial institutions are adopting blockchain technology "dramatically faster" than initially expected, with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday. Reuters reports: The technology company said 65 percent 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. Blockchain, which originates from digital currency bitcoin, works as an electronic transaction-processing and record-keeping system that allows all parties to track information through a secure network, with no need for third-party verification.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/bt7GJZY50S4/banks-adopting-blockchain-dramatically-faster-than-expected
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