51% of finance professionals to use blockchain-powered smart contracts within the year

By Jonathan Dyble
More than half of finance professionals are set to implement the use of smart contracts incorporated in blockchain technology within the next 12 months...

More than half of finance professionals are set to implement the use of smart contracts incorporated in blockchain technology within the next 12 months, according to new research from Onguard.

If accurate, this number would see a much more widespread use of smart contracts in financial operations, with 19% currently working with blockchain integrated smart contracts.

See also:

The report reflects a growing confidence in blockchain, with 94% of the 1,000 finance professionals surveyed stating that they recognise that blockchain will accelerate the order to cash process.

“While the exact uses of blockchain are not yet defined, the level of activity using this form of technology is only going to increase,” said Bert van der Zwan, CEO at Onguard.

Further, financial organisations are already using blockchain in other ways, as almost two thirds are using the technology to automate admin processes, whilst 35% have invested in cryptocurrencies such as Bitcoin,

Meanwhile, more than a quarter believe that blockchain has the ability to enhance data security.

“Businesses are already benefitting from enhanced data security, but I expect that this is just the beginning of a blockchain revolution with nearly two thirds of organisations already preparing an initiative related to blockchain,” said Bert van der Zwan.

For more information, see the full blockchain whitepaper from Onguard.

Share

Featured Articles

How Zscaler AI Innovation is Powering Data Protection

With its AI-powered Data Protection Platform, Zscaler is delivering cutting-edge innovations to provide comprehensive data security

How NetApp Unified Data Storage is Powering the AI Era

With powerful unified storage, NetApp is enabling organisations to accelerate AI innovation and unlock the full potential of their data assets

Tech & AI LIVE London – One Week to Go

Just one more week to go until Tech & AI LIVE returns to the virtual stage – May 21 2024

What Adam Selpisky’s Shock Departure Means for AWS

Digital Transformation

SAP & FC Bayern: Technology Drives Efficiency & Scalability

Digital Transformation

EY: Tech CEOs Double Down on Tech, Data & Cyber Investments

IT Procurement