Cryptocurrencies
Financial Services Industry Spends $1.7 Billion on Blockchain
- Greenwich Associates releases report on annual spending
- Three-quarters of projects expected to go live within 2 years
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Here’s proof financial services companies are taking blockchain technology seriously.
The industry spends about $1.7 billion annually on the distributed ledgers that are best known for underpinning digital currencies, according to researcher Greenwich Associates. Banks and other companies are moving beyond the proof-of-concept stage to commercial distributed ledger technology, or DLT, products, the report said.