TD Bank, the U.S. arm of Canadian Toronto-Dominion Bank, surveyed treasury and finance professionals at the end of last year. Ninety percent of respondents believe that blockchain and distributed ledger technology (DLT) will be positive for the payments industry.
The survey identified four reasons for optimism in blockchain. Top of the list is the creation of stronger audit trails (29%), followed by speeding up the payment process (22%). Improving the efficiency of cross-border payments came in third (21%). Eighteen percent cited a reduction in payments fraud.
And payment fraud and cybersecurity was the issue that topped the list of concerns at 44 percent.
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