The future of blockchain solutions and technologies

This is a vernissage of a research report from Business Insider Intelligence , Business Insider’s dividend research service. To learn more about Business Insider Shrewdness, click here .

BII

Nearly every global bank is experimenting with blockchain technology as they try to unleash the charge savings and operational efficiencies it promises to deliver.

Banks are exploring the technology in a company of ways, including through partnerships with fintechs, membership in universal consortia, and via the building of their own in-house solutions.

In this report, Job Insider Intelligence outlines why and in what ways banks are exploring blockchain technology, provides in depths on three major banks’ blockchain efforts based on in-depth evaluations, and highlights other notable blockchain-based experiments underway by global banks. It also examines the likely trends that will emerge in the technology over the next discrete years, and the factors that will be critical to the success of banks implementing blockchain-based answers.

Here are some of the key takeaways from the report:

• Most banks are inquiring the use of blockchain technology in order to streamline processes and cut costs. However, they are also looking to leverage additional uses, including increased competitiveness with fintechs, and the ability to use the technology to invent new business models.
• Banks are starting to narrow their focus, and are increasingly honing in on tactile use cases for blockchain technology that solve real problems over by their businesses.
• Regulators are taking an increased interest in blockchain technology, and they’re go alongside major banks to develop regulatory frameworks.
• Blockchain-based suspensions will start to emerge in different areas of financial services. The most victorious solutions will solve specific problems for banks and attract a obese enough network to create widespread benefits.