Use of blockchain to become widespread in 5 years: asset managers
The use of blockchain in the investment industry will become widespread in five years, a survey of asset managers by financial services firm State Street has revealed. 65% of the 48 asset managers and 42 asset owners said that they expected the technology to be used widely. Australian survey participants were the most optimistic, with 50% of those surveyed believing that blockchain will seriously disrupt financial markets. 40% of Hong Kong participants, 37% of Singaporean participants and 23% of Japanese participants believed the same.
Many observers believe blockchain, the technology behind virtual currency bitcoin, has the potential to disrupt the finance industry. Photo: Reuters