Report Shows Accelerated Bank Investment in Blockchain

A new global survey report titled, “Blockchain Technology: From Hype to Reality,” shows 80% of banks surveyed expect to utilize some type of blockchain technology by 2020; 50% of banks say they have already invested or are planning to invest in blockchain technology in 2017; these financial institutions are reporting an average blockchain investment of $1 million in 2017; according to the report, the top five use cases for blockchain are cross border payments, digital identity management, clearing and settlement, letter of credit processing and syndication of loans.  Source