Deutsche Bank Survey Sees Blockchain Adoption in Six Years

A newly published Deutsche Bank report called “Powering the flow of global capital” goes into great detail about the blockchain phenomenon. Researchers from the bank surveyed a variety of participants who believe blockchain technology is estimated to hit critical mass within six years.

Deutsche Bank Survey Shows High Hopes for Blockchain Industry

Deutsche Bank executives explained digital ledger technologies show promise and could replace traditional record-keeping, post-trade settlement, and shared assets. The report surveyed 200 participants, with 87% of the crowd believing blockchain is set to transform the securities industry.

“Blockchain may completely change the settlement model for securities processing, creating a utility around securities processing and cash management,” said a representative.

Another positive sentiment was that 75% of participants surveyed believed blockchain would be “widely used” within the next six years. The report says there is a surprising degree of optimism in an industry focused on “technological change.”

Pressure to Adapt, Says Institutional Investor

One institutional investor the report quoted said there is pressure to adapt sooner than expected with this technology. The investor explained while these protocols are quite new, corporations understand the need to implement. This particular institutional investor believes mainstream traction could happen in four years.

“At the moment, people are scrambling to figure out how they implement blockchain in the current web of legacy infrastructure,” detailed the Deutsche Bank report. “They’re trying to determine how it can be deployed in a way that works, given ongoing data protection and security concerns. They’re also trying to figure out how to transition from the older infrastructure to this entirely new system.”

Some Believe Banks Are Slow to Learn

The link between blockchain and cyber security is only noted by 31% of respondents. 48% believe blockchain could help system failures and network downtime. However, not all expressed enthisiasm about the blockchain outlook.   

“I think the banking industry is quite slow to accept change,” says the head of investment at a Northern European institution.

The Deutsche Bank report discusses many aspects of capital markets. It details many interesting insights into regulatory policy, data management, and securities lending. However, the provocative subheading “Blockchain is coming sooner than you think” shows how important this technology is in capital markets right now.

What do you think about Deutsche Bank survey concerning blockchain technology? Let us know in the comments below?

Images courtesy of Shutterstock, the Deutsche Bank financial report, and Pixabay. 

Check out our new widget service allows anyone to embed informative Bitcoin.com widgets on their website. We’ve also ramped up our tools section which also offers a variety of useful Bitcoin-related applications. And don’t forget to check out our Vote.bitcoin.com  a free and transparent voting mechanism that facilitates decentralized decision-making in the Bitcoin ecosystem.

The post Deutsche Bank Survey Sees Blockchain Adoption in Six Years appeared first on Bitcoin News.