9 Out of 10 Finance Professionals Believe Blockchain Will Positively Influence Payments Industry


A new survey made by TD Bank has some interesting foundings for blockchain enthusiasts. According to it, 90% of the professionals in the field of finance believe that the distributed ledger technology (DLT), also known as the blockchain technology, can have a positive effect in the industry.

TD Bank is one of the major American banks and is a subsidiary of the Toronto-Dominion Bank of Canada. It has interviewed over 400 professionals from the industry during a conference last year in order to determine what they believe about the future of the DLT technology.

Despite so much people believing in the potential of the blockchain for the future, only 14% of the people who responded to the survey were actually trained to use the blockchain by the companies they worked on. 45% affirmed that their companies have strategies for data and analytics and only 26% for artificial intelligence and automation.

The Potential of the Blockchain

While most people believe that the blockchain can, indeed, bring some kind of improvements for their area of work, not all people agree on what these benefits will actually be. 29% of the people surveyed believe that the top impact will be to enhance audit trails, which is the most popular opinion.

Other 22% of the people believe that it can speed up the payment process time, while 21% are more focused on the improvements of cross-border payments and 18% of the people think that the blockchain will be useful against frauds.

The responses were very varied, but a certain answer was that most people were interested in the implications of this new technology.

Similar surveys made during the World Economic Forum, which happened in Davos, Switzerland, affirmed that 40% of the institutional investors believe that the blockchain may a great invention, the most important one since the internet.

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