FTI Consulting: Most financial institutions believe blockchain technology is a big boon

Although blockchain technology is considered a disruptive technology, the latest survey shows that 70% of financial institutions believe that blockchain innovative technology will have a positive impact on their development.

It is worth noting that according to the survey data of business consulting firm FTI Consulting, among the financial institutions that have a strong awareness of blockchain technology, 90% of the companies have a positive attitude towards blockchain technology. However, some of the respondents also said that they believe that blockchain technology can also facilitate criminals to engage in illegal financial activities and circumvent institutional supervision.

According to Dan Healy, managing director of FTI Consulting, the survey was not a formal survey report, but an informal process to help the company learn more about the views of major financial companies on blockchain technology. The survey received responses from more than 700 people.

Healy told CoinDesk:

“The main purpose of this survey is to collect information and understand the views of financial institutions on blockchain technology. We have heard a lot about financial technology companies snatching the interests of traditional financial institutions, and our survey is to verify this.”

The survey report pointed out that although the majority of financial institutions (65%) said they were aware of blockchain technology, only 26% of them understood the technology.

Among the institutions that are relatively familiar with blockchain technology, 35% are from the UK, while among the institutions that are still at the awareness level, 14% are from Australia.

Additionally, 19% of financial institutions said they are ready to address the potential impact of blockchain technology. However, among those companies that are aware of blockchain, 52% believe they are ready.

Original article: http://www.coindesk.com/70-of-financial-institutions-believe-blockchain-will-be-good-for-business/
By Pete Rizzo
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/financial-institutions-blockchain)