BAFT Annual Meeting Survey: 64% of respondents believe there will be thousands of blockchains

Financial professionals are increasingly bullish on blockchain and distributed ledger technology, even as they profess a lack of understanding of the technologies, a new survey shows.

A survey by think tank and distributed ledger expert Z/Yen Group, conducted at the Bankers Association for Finance and Trade (BAFT) global annual conference in Paris in January, found that while 70% of respondents said their financial institutions were exploring the technology, 69% said they did not feel they had a good grasp of how it worked.

Overall, 73% of respondents said they had more than 15 years of industry experience, with the majority in executive (44%) or product development (46%) roles. Only 6% said they were responsible for providing technical support for their organization.

Notably, respondents indicated that they believe there will be more than one central distributed ledger in the future, with only 3% saying they believe technologies like the bitcoin blockchain could serve this function.

64% of respondents believe that there will be tens of thousands of blockchains in the future (48%), and possibly even more than a billion (16%).

71% of respondents believe that SWIFT, the Society for Worldwide Interbank Financial Telecommunication, would consider that their services should be extended through distributed ledger technology, while only 18% suggested that blockchain technology would serve as a replacement for SWIFT.

Elsewhere, the survey looked at the impact of regulation on financial technology and the effectiveness of existing approaches to combating cybercrime, among other topics.

Original article: http://www.coindesk.com/baft-bankers-billions-private-blockchains/
By Pete Rizzo
Translator: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/billions-private-blockchains)