Join the BitcoinNews Telegram channel for daily updates >>LINK

Study Shows Blockchain Finds Primary Application in Payments

Blockchain Finds Application in Payments

Support free writers: > send a tip

written by

  • A recent research of Blockchain In Banking from Business Insider Intelligence revealed that the top applications of blockchain lie in the payment section followed by securities settlement, fraud detection and trade finance.

Of the companies analyzed and surveyed, 66% are of the opinion that the primary benefit of the technology is the enhancement of payments while 56% reported that blockchain in securities settlement is the most beneficial. 41% of the respondents find their main application in the field of fraud detection and security and 38% leverage the technology primarily in trade finance.

The report analyzed several companies such as Australia and New Zealand Banking Group, Bank of America, CME Group, Citi Bank, HSBC, Ripple, Visa, Fidelity Investments, IBM and JPMorgan, to name a few.

Despite the numerous benefits associated with the technology, financial institutions continue to face several challenges. Some of the major challenges include regulatory uncertainty and scaling the technology for application in business and economic activities. Moreover, there is difficulty in bringing competitors together.

However, this does not stop the financial organizations from jumping on the bandwagon as they continue to rise as industry leaders by leveraging the technology to achieve varying degrees of success. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


The Tragedy of Fiat Money

Over the course of the last 18 years, the European Central Bank (ECB) printed new currency, multiplying money supply by more than 5 times, bringing it to 1308 billion. Here we discuss whether or not the central bank’s actions could be considered a robbery.

Read More »


Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter