Every tenth financial company invested more than $10 million in blockchain, according to the research

June 13

​​​​​​​Banks and other financial services providers invested about $1.7 billion in DLT.

According to the research by Greenwich Associates, the costs for blockchain technologies in the financial industry has increased by 67% last year and the number of the employees working on blockchain projects has doubled, Bloomberg reports. The news agency says that the rising costs are the proof that financial companies are serious about the technology.

At the same time, although the technologies of the distributed registry have recently been one of the main sources of innovative solutions in the financial sphere, many banks were unable to implement them quickly.

«More than half the executives we interviewed told us that implementing DLT was harder than they expected», − the vice president of Greenwich Associates Market Structure and Technology Richard Johnson said.

It is expected that more than three quarters of the blockchain projects that now are under development will be launched in the next two years.

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