Survey: 73% of finance professionals see a bright future for blockchain tech without bitcoin

FinTech | October 8, 2015 By:

A new survey conducted by Greenwich Associates, a market intelligence firm, suggests that many finance professionals see a bright future for blockchain technology – just not one involving bitcoin.

When asked whether Wall Street legal and compliance professionals will trust asset transfers that occur via a blockchain. Thirty-two percent indicated that they believe this trust will definitely take shape, whereas 38% of the 55 respondents queried said they believe this trust will come about “eventually”.

Thirteen percent said that “more regulation is needed” before such an outcome is possible, while 11% said Wall Street will never trust this application of the technology. Seven percent remained undecided.

On the question of whether “the blockchain can thrive without bitcoin”, 73% of the 55 respondents asked this question said they believe it can.

The survey was conducted in May and June of this year, drawing feedback from 102 finance professionals. In July, an additional 55 interviews were conducted as part of the study.