Moody’s clients are working on 120 blockchain projects

Credit ratings firm Moody’s clients, including governments and corporations, are working on as many as 120 blockchain-related projects, new data shows.

Many of the projects have been publicly disclosed, and the report cites the Hyperledger project and initiatives by regional and global financial consortiums as key drivers of issuer participation. Some public sector initiatives are also cited.

The report also focuses on smaller, more focused initiatives, one of which is the creation of a prototype by Germany's Allianz SE to handle catastrophe swaps and bond trading.

However, other items, including computing, are less certain.

The report cites work by China’s central bank, the People’s Bank of China, to explore the development of electronic money. While a blockchain-based digital currency is believed to be under discussion, there are signs that the central bank may eventually look to other technologies.

That said, it is too early to determine what form other central bank programs might take.

For its part, the credit agency argues that despite much activity among financial circles around the world, flaws persist.

“There is significant enthusiasm for the potential of this technology, but large-scale blockchain implementation has a limited track record in this regulated environment and many barriers exist before we see widespread adoption,” said Robard Williams, senior vice president at Moody’s, in a statement.