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Blockchain adoption in banks coming, but slower than expected

Clint Boulton | Nov. 15, 2016
Banks will likely take 24 months or longer to push blockchain software systems into commercial production, says the man who championed the digital ledger technology at UBS.

Zilvinas Bareisis, an analyst at banking consultancy Celent, says that the hype surrounding blockchain far exceeds most enterprises’ and regulators’ grasp; not enough people understand the technology. For instance, regulators and businesses alike will have to carefully assess and govern shared digital ledgers, where multiple parties can access customer data.

"Blockchain as we know it is going to be very hard for banks to adopt,” Bareisis says.

 

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