A new survey has found that nearly two-thirds (64%) of asset managers expect to using blockchain technology within the next five years.
Conducted by consultancy Roubini ThoughtLab, the findings are part of a report entitled "Wealth and Asset Management 2021", a broad research offering that aimed to study how investment providers are embracing new technologies.
When asked about technology-enabled investment tools, 39% indicated that they expect blockchain will form a part of next-generation digital wealth management platforms, though it was not the fastest-growing technology among those surveyed.
Over the next five years, respondents expected artificial intelligence and virtual reality use to grow the fastest followed by web analytics and sentiment analysis.
Notably, 45% of respondents are targeting blockchain in the short-term, indicating that they expect the technology to become a bigger part of their business by 2021.
Bank of Montreal, Broadridge, CFA Institute, Cisco, eToro, Schroders, SEI and State Street also contributed to the report.
Investment analysis image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.