Financial firms continue to explore distributed ledger opportunities

An increasing number of industries seem to be dipping their toes into the blockchain arena. According to a recent report from PwC, 84 percent of respondents said their company is involved with blockchain in some capacity, whether that be testing new capabilities in a lab setting, building proofs of concept or running full-scale deployments. The World Bank and the United Nations have introduced blockchain initiatives, as has Red Hat customer, the Australian Securities Exchange (ASX), following the lead of companies in communications and media, retail, energy and utility, healthcare, and other industries.

Blockchain seems to be everywhere. However, according to the PwC survey, there’s still one industry that’s seen as leading the pack: financial services. That financial services leads the pack makes sense, given the fact that blockchain started out as a way to record currency transactions for Bitcoin, a type of digital currency that operates independently of a central bank. And while the initial leading industry for blockchain application was financial services, it’s clear that the technology has moved well beyond this, and financial services organizations are exploring the use of blockchain in different ways.

Continue reading “Financial firms continue to explore distributed ledger opportunities”