As NASDAQ is gearing up to become the first exchange operator to utilize blockchain technology by the end of this year, a newly published report by financial industry consulting firm Greenwich Associates suggests that the tech-exchange might just be setting a trend. The consulting firm predicts that blockchain technology is coming to the financial markets in a big way.
In order to get an idea of the level of awareness and understanding of blockchain and blockchain-like technologies, Greenwich interviewed 102 institutional financial professionals over the past couple of months. Nearly all of these professionals – 94% – believe distributed ledger technology could be applied in institutional markets, while almost half of them are actually reviewing the technology within their firms already.
Commenting on the findings, Head of Greenwich Associates Market Structure and Technology Practice, and co-author of the report, Dan Connell, said:
“In both par loans and collateralized loan obligations, a month-long settlement cycle is common and often includes the use of a fax machine. […] For a market so obviously in need of technology, it makes sense to implement improvements with the latest tools and approaches available, like blockchain.”
Read more ... source: Cointelegraph