Gartner Research

Market Trends: Look Beyond Technology to Succeed in Blockchain

Published: 18 November 2016

ID: G00316175

Analyst(s): Rajesh Kandaswamy , Moutusi Sau , Derry Finkeldey

Summary

Significant interest in blockchain from the banking, securities and insurance industries is confined mostly to proofs of concept, without ensuing production-level projects. To achieve growth, technology product management leaders must help clients build convincing business cases.

Table Of Contents

Introduction

Market Trend

  • There Are No Winners Yet Among the Diverse but Related Blockchain Technologies in Use
    • Implications to Providers
  • Buyers Invest in Several POCs but Struggle to Move Past Them
    • Implications to Providers
  • Industry Associations, Consortia and Alliances Are Driving Key Elements of the Blockchain Ecosystem
    • Implications to Providers
  • Blockchain Activity Is Concentrated in Certain Areas in Financial Services
    • Trade Finance
    • Remittances and International Money Transfer
    • Know Your Customer and Anti-Money-Laundering
    • Loyalty and Rewards
    • Securities Trading and Settlement
    • Reference Data Management
    • Internal Payments
    • Insurance
    • Implications to Providers
  • While Blockchain Is Applicable in Many Areas, Actual Implementations Depend on Market and Business Factors
    • Implications to Providers

Contrarian View

  • Lack of Cooperation in the Financial Services Industry Can Limit Blockchain Adoption to the Fringes

Vendors to Watch

  • TSP Landscape Is Nascent With Fluid Boundaries
    • Category Definitions

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