Sunday, April 21, 2019

Juniper Research: Blockchain Cross-border Transactions to Reach over 1.3 Billion by 2023, up from 119 Million in 2019

BWW News Desk
April 16, 2019

New research by a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwjuniperresearchcom2Fhome3Futmcampaign3Dblockchainforfinancialservices19pr126utmsource3Dbusinesswire26utmmedium3Dprampesheet51969618ampnewsitemid20190416005091amplanenUSampanchorJuniperResearchampindex1ampmd5127a43343501d5fb8f0e776e40b2e789 relnofollowJuniper Researcha found that the number of crossborder transactions recorded on the blockchain will surge to 13 billion by 2023 a CAGR of 82 over the next 4 years The value of transactions recorded on the blockchain will thus reach an unprecedented 34 trillion a CAGR of 87 over the next 5 years p p Junipers new research a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwjuniperresearchcom2Fresearchstore2Ffintechpayments2Fblockchainforfinancialservices3Futmcampaign3Dblockchainforfinancialservices19pr126utmsource3Dbusinesswire26utmmedium3Dprampesheet51969618ampnewsitemid20190416005091amplanenUSampanchorBlockchainforFinancialServices3AOpportunities2CChallenges26Forecasts20192030ampindex2ampmd5a6fe01a9d3b173af88b57de1f66f2cc5 relnofollowBlockchain for Financial Services Opportunities Challenges amp Forecasts 20192030a argues that blockchain will become critical for financial institutions aiming to improve their bottom line Juniper anticipates that banks stand to save close to 27 billion a year by 2030 through blockchain implementation p p For more insights download our free whitepaper a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fwwwjuniperresearchcom2Fdocumentlibrary2Fwhitepapers2Fblockchaininfinance7Ethegoodthebad3Futmcampaign3Dblockchainforfinancialservices19pr126utmsource3Dbusinesswire26utmmedium3Dprampesheet51969618ampnewsitemid20190416005091amplanenUSampanchorBlockchaininFinance7ETheGood2CtheBad26theUglyampindex3ampmd5a68e826920cdb1365684d8ff845004bc relnofollowBlockchain in Finance The Good the Bad amp the Uglya p p ibLeading Financial Services Vendorsbi p p Juniper assessed 19 blockchain vendors scoring their level of agility presence and innovation the complexity of their blockchain solutions and prospects in the field It ranked the 5 leading vendors in the space as follows p ul li classbwlistitemmargb IBM li li classbwlistitemmargb Infosys Finacle li li classbwlistitemmargb Interbit li li classbwlistitemmargb Deloitte li li classbwlistitemmargb Digital Asset li ul p IBM remains the indisputable leader in the space having attracted dozens of clients in financial institutions and developed mature blockchain products including a trade finance platform and bespoke work on areas ranging from securities digitisation to derivatives Meanwhile Infosys Finacle continues to develop its blockchainagnostic solutions through its Blockchain Framework and Finacle Trade Connect gaining a strong customer base among banks p p ibSmart Contracts at the Core of Blockchains Offeringbi p p Juniper found that smart contracts will be key for financial institutions particularly in the context of increasing accuracy and transparency This is exemplified by JP Morgan Chases use of smart contracts to reduce compliance costs via the Quorum platform a distributed ledger transaction network built on Ethereum p p The research cited continually rising compliance costs particularly in North American and West European markets as critical drivers behind bank spend on innovative solutions such as smart contracts p p Juniper Research provides research and analytical services to the global hitech communications sector providing consultancy analyst reports and industry commentary p p p pimg referrerpolicyunsafeurl alt srchttpsctsbusinesswirecomctCTidbwnewsampsty20190416005091r1ampsidweb02ampdistronxamplangen stylewidth0height0span classbwct31415p

SOURCE: BUSINESS WIRE. ©2015 Business Wire


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