Banking and Financial Services (BFS) has been the leading industry to steer the adoption of blockchain technology. It has witnessed explosion of blockchain use cases that include trade finance, Know Your Customer (KYC), syndicated loans, inter-bank reconciliations, and cross-border payments. The industry is currently witnessing the phasing out of the hype around blockchain technology that is allowing real enterprise blockchain use cases with pragmatic business value to see the light of the day. Some of these use cases have started to show early signs of blockchain business value realization. Enterprise investments in blockchain technology were at an all-time high in 2018 and we expect it to more than double in 2019. BFS industry has witnessed the maximum adoption of blockchain technology across industries in the past 12 to18 months.
In this report, we have analyzed 130+ blockchain case studies to understand the blockchain adoption journey in the BFS industry. We have identified and listed down 36 use cases across the BFS industry to bring out proof points of blockchain adoption. This study suggests that 24% of the total blockchain case studies evaluated in the BFS industry have moved into the deployment stage as of September 2018.
This report will provide a roadmap for blockchain adoption to BFS enterprises executives leading blockchain initiatives. It will guide them to extract maximum value by studying current value delivered and build pragmatic hypothesis on potential value. It will demystify the blockchain technology landscape and help identify the right set of partners for the business use case. This report also highlights the challenges that BFS enterprises face along their blockchain adoption journey and the ways to overcome some of them.
CONTENT
Everest Group "BINGO" framework for blockchain adoption
