From what we can observe in the market, 2016 is the year which sees the move from the hype phase to prototype phase. We predict the development and launch of the first blockchain PoCs in the financial services industry at a company level. In this scenario, the majority of financial institutions interviewed seem unprepared to tackle the upcoming challenge.

A radical change in culture is required to re-think banks’ business models in order to prosper in the future. However, only a few industry participants like Bolero are grasping this while most seem to be focusing on “old-world” use cases as 60% believe that payments will be their initial focus, while in this area a unicorn already exists: bitcoin!