Financial services industry spends $1.7B on blockchain

posted 3 months ago
The financial services industry spends $1.7 billion annually on distributed ledgers, according to researcher Greenwich Associates.

The study shows the budgets spent on blockchain increased 67% last year, with one in 10 banks and other firms reporting spending in excess of $10 million. Likewise, the number of employees working on blockchain initiatives doubled last year.

Richard Johnson, vice president of Greenwich Associates Market Structure and Technology said more than three-quarters of projects that are currently under development are expected to go live within two years.
Tags: blockchain, news