‘Blockchain is the biggest innovation since the internet’
60 percent of the global financial services retails who know something about blockchain technology call it the most important innovation since the creation of the internet. A bold claim! But what’s really scary is the fact that more than a third of all global respondents never heard of the technology at all.
On behalf of Pegasystems and Cognizant, Marketforce surveyed 500 financial services and insurance industry executives around the globe. Some key highlights below, you can download the full report here.
“60 per cent believe that blockchain, a distributed public ledger which can securely record any information and the ownership of any asset, will prove to be the most significant technology development to affect financial services since the Internet”
“22 per cent of our respondents expect it to be mainstream practice for consumers to hold most of their financial assets in a blockchain wallet within five years, rising to 55 per cent in ten years and 71 per cent in fifteen years”
“Blockchain is an emerging technology that could trigger wholesale disruption, with some pundits warning it could end banking as we know it while others argue it could be the savior of financial services sector. ”
” The implications of blockchain pose major questions not just for financial institutions but for wider society”