From 11% last year to 26% this year: According to a study of the Bitkom digital association , the frequency with which blockchains were named by companies as a significant technology trend has seen stark growth. Blockchains enable secure transactions without a central trusted entity; financial transactions can already be processed in this way today. The future could hold certified documentation without notaries, or the execution of contracts as smart contracts, for example.
In the financial sector, blockchain is met with mixed feelings: On the one hand, they could generally endanger the existence of financial service providers and investment managers, as transactions are processed directly between paying and receiving parties. On the other hand, they could majorly streamline financial institutes: Consulting firm Bearing Point Institute estimates that costs per transaction could fall from the current 40 US dollars to as little as 10 US dollars owing to blockchain.