Moody's Clients Working on 120 Blockchain Projects, Report Shows

As many as 120 blockchain-related projects are being undertaken by governments and companies rated by Moody’s, new data shows.

AccessTimeIconJul 22, 2016 at 9:44 p.m. UTC
Updated Sep 11, 2021 at 12:23 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

As many as 120 blockchain-related projects are being undertaken by governments and companies rated by credit agency Moody’s, new data shows.

Many of the projects have been publicly disclosed, and the report cites initiatives like the Hyperledger Projects as well as both regional and global finance consortiums as major drivers of issuer participation. A number of public sector initiatives are also cited.

also centered on smaller, more focused initiatives, including one by Allianz that saw the creation of a prototype for handling the trade of catastrophe swaps and bonds.

Other items included the calculation aren't so certain, however.

The report cites work by the People’s Bank of China (PBoC), the Chinese central bank, to explore the development of an electronic currency. Though a blockchain-based digital currency is believed to be under consideration, signs indicate that the PBoC might ultimately look to other technologies.

That said, it’s too early to say what shape this or other central bank projects might take.

For its part, the credit agency argued that in spite of the activity among financials around the world, shortcomings remain.

"There is significant enthusiasm for the potential of the technology, but there is still a limited track record of large-scale blockchain implementation in a regulated environment, and many hurdles lie ahead before we see widespread applications," Robard Williams, an SVP for Moody’s said in a statement.

Image credit: Gil C / Shutterstock.com

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.