While some big banks and tech start-ups are raving about blockchain technology, asset managers are proving reluctant to use it.
According to new research from State Street, only 7% of institutional asset owners or managers say they’re currently working to adopt blockchain technology, despite the fact that the majority — 57% — expect it “to be widely adopted in the investment industry in the next five years.”
Blockchain, the technology behind Bitcoin, is a ledger that works somewhat like Google spreadsheets, allowing updates from many different parties.
