Research and advisory company Gartner expects blockchain deployment in financial services to be at least three years away. The firm cited the lack of interoperability standards between financial institutions and said blockchain standards are highly fragmented.
Last week Gartner unveiled its 2019
blockchain hype cycle. It cites banking as the most mature sector for blockchain deployment, followed by government, education and insurance. About 60% of Chief Information Officers (CIOs) expect some sort of blockchain adoption within three years.
Standards are important for financial entities as they have to move assets between clients, partners and other institutions. Currently, companies opt for blockchain platforms like Corda, Hyperledger, Digital Asset or a public blockchain technology like Ethereum.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
