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Banks may adopt Bitcoin technology by 2016

Wednesday 11 November 2015 13:15 CET | News

Capital markets could adopt the technology behind Bitcoin in 2016, according to a report by TABB Research.

The reports authors predict blockchain solutions will be applied to track syndicated loans by the second quarter of 2016, but added that other market sectors may take longer. For example, applying blockchain to derivatives will take up to five years to develop, while using blockchain to settle share trading is a decade away.

According to the report, utilizing blockchain technology would lead to more efficient and transparent systems to track and record financial transactions, or could improve upon existing systems used by banks.

The report from TABB reinforces findings made by the Bank of England in 2014. The UK’s central bank described the blockchain as a technological innovation because it could allow transaction systems to work without a third party intermediary and showed that digital records can be held securely.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, blockchain, banking
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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