The promise of change in financial services through blockchain technology is palpable. The ability to decentralize trust, develop consensus-driven ledgers, and re-engineer core infrastructure away from old and legacy technologies has the potential to drastically transform the economics of the industry and conceivably the economics of financial transactions globally.
Now the industry asks, how do we get there? Can traditional software adoption schemas to blueprint the implementation of blockchain be used? TABB Group latest research report suggests otherwise.
In TABB Group’s latest research, “Blockchain: Overcoming First Mover Disadvantage,” CEO and report author Larry Tabb discusses the various challenges in driving blockchain adoption and lays out a direction forward. The research explains that blockchain technology will only be successful if used by a quorum of market participants, which creates a perverse environment where the first movers experience penalization rather than incentives.