A new market intelligence report by BIS Research, titled ‘Blockchain Technology in Financial Services Market – Analysis and Forecast: 2017 to 2026’, has reached the conclusion that the application of blockchain could lead to a per-year cost savings of $6-8 billion in KYC/AML, $30-40 billion in trade finance, and $50-60 billion in capital markets.
Now recognized as one of the most disruptive technologies across a number of industries, interest in the technology is identified as being driven mainly by the inefficiencies in existing technologies and processes in the industry and mistrust between parties.
