Banks and financial firms are planning to release commercial-grade blockchain services within the next two years, two surveys published today by IBM show.
Of the financial markets operators asked the same question, 14% suggested that they would have their own services online by that date.
"In effect, 2017 looks to be the year banking on blockchains shifts from zero to sixty," the company said of the results.
The bulk of those surveyed see commercial-grade products hitting the market sometime by 2020. In the case of banks, 51% percent anticipate releases within that time period, with 34% anticipating that they would do so after 2020.
That data was mirrored among financial markets stakeholders, the surveys show.
Fifty-six percent said they expect to have services online by 2020, with the remaining 30% suggesting that they might release something after that time.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.