A Timetable for Blockchain Uptake?
According to a recent Morgan Stanley report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the financial industry sees an opportunity to reduce complexities using blockchain to power smart ledgers and contracts. While broad based adoption in the banking industry could take as long as a decade, exchanges and certain behind the scenes players could feel the impacts of “permissioned” blockchain uptake in as little as 12-18 months. The authors predict that change will come through consortia of market participants acting in concert as opposed to start-ups, although there are a growing number of new FinTech firms pushing change through API-driven products. Forbes online has an interesting and detailed synopsis, which also outlines a number of the challenges to adoption.