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Blockchain Technology: From Hype to Reality

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), along with its partner Let's Talk Payments(LTP), has released a global survey report - "Blockchain Technology: From Hype to Reality".

The study polled over 100 senior financial services leaders at more than 75 organizations across the world and revealed that:

  • 50% of banks are already investing in Blockchain or will invest in 2017
  • The average investment in Blockchain Projects in 2017 is expected to be about $1 million
  • 33% of respondents expected to see commercial blockchain adoption by 2018, while a majority, nearly 50%, see mainstream adoption by 2020
  • A majority of banks, about 69%, are experimenting with permissioned Blockchains, followed by 21% who plan to use hybrid variants
  • Cross-border payments, digital identity management, clearing and settlement, letter of credit process and syndication of loans are the top 5 use cases chosen by the respondents as the most likely for commercial adoption
  • About 50% of the banks surveyed are either working with a FinTech start-up or technology company to augment their blockchain capabilities, while another 30% have opted for the consortium model

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