bitcoin, blockchain, cryptocurrencies, digital currency

According to the latest survey, the blockchain technology is believed by 70% of the financial institutions to be an innovation that will bring a positive influence into their business sector.

Moreover, what is interesting is, that this statistics jumped even to 90% among financial institutions that had a strong awareness of the technology, according to data from business advisory firm FTI Consulting. This statistics came even as respondents stated that they also believe that blockchain technology could make it easier for criminals to provide financing to illegal activities, as well as sidestep regulations.

As Dan Healy, the Managing director, stated, the survey was not meant to be only a formal report, but rather an informal process to provide more information to FTI, to get knowledge about the perception of blockchain technology among major financial institutions. Over 700 respondents provided their answer in the survey in total.

As Healy told in an interview with Coindesk:

“We did it primarily for our own information, to learn what financial institutions know or think of this. We hear a lot about the same FinTech companies eating the lunch of more traditional financial institutions and this was with that view.”

According to their statistic, majority of financial companies reported their awareness of the technology (even 65%) and only 26% had no knowledge about it. UK was the country of the highest blockchain knowledge among the respondents, reaching even 35%, while at the end of the statistics is Australia with only 14% institutions being aware of it.

Furthermore, the statistics showed that 19% of financial institutions informed that they believe in being fully prepared for the impact, that the blockchain technology could have on their business. However, this has even increased to 52% among respondents that mentioned a higher knowledge of the technology.

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