One of the top corporate credit ratings providers believes it’s too early for the use of blockchain tech to be a factor in its analysis.
In a report published this week, Standard & Poor’s (S&P) reportedly weighed in on the emerging technology, asserting that while it believes the “market-wide adoption” of blockchain technology remains far off, it continues to monitor its evolution due to its anticipated impact.
Notably, S&P said it does not see the use of blockchain technology to be a ratings driver “in the near term or even perhaps in the long term”.
“But we consider that, depending on the technology’s eventual application and whether it takes hold in the financial industry, it could have a substantial impact on institutions’ business models.”
S&P further stated that it would consider changing this view should adoption occur faster than it “currently expects” or if the technology substantially impacts industry business models.
Ratings image via Shutterstock
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