Blockchain Will Be Widely Adopted in 5 Years

Jun 10, 2016 at 21:44 // News
Author
Nina Lyon

Latest research on the investment industry conducted by State Street Corporation shows asset owners and asset managers believe that Blockchain technology will be widely adopted in the next five years.

Latest research on the investment industry conducted by State Street Corporation in collaboration with Oxford Economics shows that 57% of asset owners and asset managers believe that Blockchain technology will be widely adopted in the next five years. 

Moreover, 80% of respondents noted that distributed ledger technology will have the greatest impact on IT departments. Thus this will affect the need to introduce new skills necessary to adapt to new technical demands. 

However, the survey also revealed that 48% of asset owners do not know enough about distributed ledgers, while 78% of asset managers admitted that they need more education.
Hu Liang, the head of State Street’s Emerging Technologies Center also commented

“We are actively supporting several blockchain and blockchain-inspired initiatives both internally and as part of a handful of consortia of the world's biggest banks and technology companies.”

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