Market intelligence firm Greenwich Associates says blockchain projects will move from proof-of-concept to production in 2017

Rage Review : 2016 is considered a "year full of surprises". A series of political and economic events, including the devaluation of the RMB, India's currency reform, Venezuela's economic crisis, the impact of the Brexit referendum, the US presidential election and the Italian constitutional referendum, have strengthened the market's demand for blockchain technologies such as Bitcoin. Greenwich Associates, a leading global market intelligence provider providing consulting services to the financial services sector, has predicted that blockchain will become one of the most promising market structure development trends in 2017.

Translation: Flora

Greenwich Associates predicts that blockchain will be one of the top market structure trends in 2017.

Greenwich Associates, a leading global provider of market intelligence and consulting services to the entire financial services sector, has released a report on the top market structure trends for 2017.

Greenwich Associates calls 2016 a "year full of surprises": Brexit, Trump's victory in the US presidential election, the Chicago Cubs' first World Series title in 108 years, a bond market repayment crisis and the continued blockchain craze. Financial markets have already planned their development path, but if the Republicans in Washington overturn the laws and regulations that the entire industry has spent billions of dollars to build and has long relied on, they will need to face some possible problems.

But from the Greenwich Associates report, they seem to be very optimistic about this. Greenwich Associates pointed out that capital market participants such as banks have successfully gained more benefits from large transactions, and this trend will continue to develop. Ultimately, as interest rates continue to rise and bank profits continue to increase, the entire market will benefit from it.

The report states:

“Deregulation, or at least the absence of new regulation, is likely to be a theme in Washington over the coming year. As the full impact of MiFID II remains unknown, we have high hopes that markets will adapt to the implementation phase and become more efficient without being overregulated.”

Greenwich Associates believes that blockchain will be one of the most promising development trends in 2017.

Some feel that the importance of blockchain may be overstated. Not so Greenwich Associates. The firm focused on a number of complex market structure issues in equity, fixed income and foreign exchange markets in 2016, but was surprised to find that its blockchain research was still the most viewed by its capital markets clients.

Bitcoin also received a lot of attention in 2016. The ability to transfer value directly without a middleman remains the biggest attraction. It’s no wonder that the price of Bitcoin surpassed $1,000 on the first day of 2017.

A series of political and economic events, including the devaluation of the Chinese yuan, India's currency reform, Venezuela's economic crisis, the aftermath of the Brexit referendum, the U.S. presidential election and the Italian constitutional referendum, have all led to an increase in demand for Bitcoin and a continued surge in its price.

At the end of 2016, the Hyperledger Project, which is dedicated to blockchain applications in the commercial field, announced the joining of 8 new members, including CA Technologies, Factom Foundation, Hashed Health, Koscom, LedgerDomain, Lykke, Sovrin Foundation and Swisscom. These companies will work together to create an open standard for distributed ledgers for the next generation of transactional applications.