Mercator Advisory Group, the trusted advisor to the payments and banking industries globally, has recently released a report, entitled “Blockchain in Corporate Banking: What’s Up?”, that examines activity in blockchain technology and use cases for corporate banking expected to be piloted in this year.
“2016 predicted to be breakout year for blockchain technology in corporate banking”, the report says.
More and more banks are now undertaking blockchain research to explore its potentials and the rush to invest in blockchain technology has hit a “feverish” pitch, the report noted. However, almost all blockchain activity has been related to consumer applications so far. Mercator expects several use cases to be piloted during the course of this year by “at least two” of the many collaborative projects launched in 2015.
The report studies recent investment and collaboration in developing blockchain technology, predictions for corporate banking use cases expected to be piloted in 2016 and expectations around the use of cryptocurrency in corporate banking.
The newest research note, authored by Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service, discusses “the exploding investment and targeted resources aligning to investigate the uses of blockchain in corporate banking, heretofore a stepchild to consumer or retail banking application development.”
"Blockchain, or distributed ledger, came to the forefront of corporate bankers’ minds in 2015, as Bitcoin’s underlying technology was widely recognized as a possible game-changer for a number of use cases in the complex world of large business and bank transactions,” said Murphy. “2016 should be an interesting year for pilot uses cases, and in this report we point out several of the logical and more near-term possibilities.”
