The latest survey from IBM suggests 65 percent of major global banks will use blockchain technology within just three years, while CEO Ginni Rometty warns that slow responses will damage businesses.
Also read: IBM to Launch First Commercial Blockchain in September
17% of Banks to Have Full Blockchain Product, IBM Reports
The tech giant, whose latest findings come from 200 banks and another 200 other financial institutions, released the data Wednesday.
“Leading the Pack in Blockchain Banking: Trailblazers Set the Pace” also reports that 15 percent of global banks will have a fully fledged blockchain product in operation by 2017.
The figures highlight the astonishing pace at which the technology has taken hold of traditional finance. Institutions are rapidly forming solutions to avoid being left behind, a sentiment echoed by IBM’s CEO Ginni Rometty.
Speaking at the Sibos Conference, organized somewhat ironically by SWIFT —
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