77% of financial institutions will adopt blockchain. Research findings

77% of financial institutions will adopt blockchain. Research findings

Over 77% of global financial institutions will shift to blockchain by 2020, as said in the report by PwC consulting company.

The survey was conducted in 71 countries among 1308 top management representatives such as executive directors, heads of departments and divisions. All of them were somehow connected with financial services industry.

According to the report:

  • 55% of surveyed are planning to implement blockchain by 2018, and 77% – by 2020;
  • 19% of financial institutions and 50% of large fintech organizations believe that blockchain is the most attractive technology for investments the next year;
  • The most probable application areas of blockchain include payment system (55%), money transfer system (50%), and digital identification system (46%).

PwC notes that opinions on using blockchain differ depending on the location of the respondent. The main factor shaping the view is the level of development of advanced technologies in the country.

You can get acquainted with the complete report by following the link.

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