Blockchain has graduated from an emergent technology that suffered from a fair amount of industry hype 14 years ago, to a mainstream tool banks can use to create operational efficiencies and solve legacy problems, but the technology is still a distant threat to well established systems such as Swift, said experts during the Crypto and Digital Assets Summit organised by the Financial Times and The Banker in London today.
“Clients don’t care whether it’s blockchain or not — they just want to solve capital management problems, manage liquidity and risk — and that’s where we’re seeing a drive in blockchain adoption,” said Justin Chapman, global head of digital assets and financial markets at Northern Trust.
