The third annual Blockchain in Payments Report reveals that blockchain adoption is key to a successful growth strategy for financial institutions. In the past 12 months, early blockchain adopters were more likely to report strong growth compared to other respondents. The survey also found that adoption has crossed the chasm and the majority of respondents are using blockchain in production, signaling that both end users and payments services providers have proven the value and reliability of the technology. To further fuel adoption and grow payments-related revenue, simplified implementation and regulatory clarity are necessary. Globally, policy makers have been increasingly speaking about the benefits of blockchain and digital asset technology. At the same time, a variety of blockchain technology providers are facilitating easier implementation through APIs, hosted services and standardization.
