The financial industry spends annually about $ 1.7 billion on solutions based on distributed ledger technology (DLT), according to Bloomberg.
Banks and other companies are moving from the proof-of-concept stage to the commercial use of technology.
Last year, the cost of blockchain increased by 67%. And every tenth company reports spending of more than $ 10 million. The study also notes that in 2017 the number of employees working on the blockchain projects has doubled.
Despite the fact that in recent years the attention of companies providing financial services has focused on DLT, not all of them have been able to implement the technology in their activities.
More than half the executives we interviewed told us that implementing DLT was harder than they expected.
Vice president, Greenwich Associates Market Structure and Technology.
Despite this, it is expected that more than three quarters of projects under development will be successfully implemented in the next two years