Misys, a financial services provider, has conducted an in-depth look at distributed ledger technology use cases across capital markets and corporate banking before concluded that multiple initiatives across the industry are still at proof of concept stage, with mass adoption anything up to a decade away. The Misys portfolio of technology solutions seek to support network integration and help banks take advantage of the blockchain movement when the market develops.
Boris Lipiainen, Global Head of Product Management at Misys, remarked: “We are on the precipice of an exciting technology-led transformation but it is early days and it isn’t yet clear how quickly Blockchain will become mainstream. With some reports suggesting we’ll be backseat drivers by 2020, the race is on to see which will come first – semi-autonomous vehicles on our roads in numbers or mass adoption of Blockchain. Bitcoin and cryptocurrency was a strong use case for DLT and maximised the hype but moving it into other areas of financial services is extremely complex. We are on the precipice of an exciting technology-led transformation but it is early days and it isn’t yet clear how quickly Blockchain will become mainstream.”