According to a new Deutsche Bank Blockchain report three out of four capital markets participants believe that distributed ledger will be used by everyone and everywhere in the world by the end of 2022.
Conducted by Deutsche Bank, this report about the blockchain wanted to explore why financial institutional, investors, banks, financial sponsors and broker-dealers are working or studying the distributed ledger and how they want to implement it into their business strategy.
The survey includes 200 market participants, and 87% believes it is likely to have an impact on securities services.
However, 75% of partecipants think that distributed technologies will be widely used within the next 3 or 6 years; and the report authors believe that this is a surprising degree of certainty about the blockchain.
Deutsche Bank’s head of Custody and Clearing, Deborah Thompson, explained in the report:
“Respondents were clearly positive about the potential impact of blockchain — almost all participants saw it as either moderately or completely disruptive to existing business models — and an overwhelming majority believe it will be actively used within the next six years.”
Also, the greatest part of report respondents think that the technology will help firms to reduce costs; and almost half (48%) said they believe that the blockchain could solve systems failures.
Earlier this year, Deutsche Bank has already demonstrated how it is interested in the blockchain. Click here to read more about Deutsche Bank Blockchain research and tests.
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