Bitcoin and its related technology blockchain has witnessed significant interest in financial services. In part the success of the technology can be measured based on the number of transactions and the bitcoin price, which now stands at $734. That value could increase by eight-fold in less than a decade, a report predicts. The technology is at an important crossroads, a Canaccord Genuity says, as governance and structural issues need to be addressed in order for continued success.
Financial services industry most impacted by blockchain as transaction settlements streamlined, as investment year over year flattens
Blockchain, the technology behind the transaction ledger of Bitcoin, is likely to have its greatest impact in the financial services because of its ability to reduce third party transaction costs, Michael Graham and his team of analysts noted. In a November 23 report titled “Checking in on blockchain and bitcoin in financial services,” the most significant impact is currently being felt in capital markets and wholesale payments, with a focus on securities