Data: Blockchain's course correction
Blockchain technology is a hot topic, generating such frothy interest at one point that the soft drink company Long Island Iced Tea changed its mission and its name to become Long Blockchain Corp. to ride the wave. Due to the distributed ledger technology's roots in supporting bitcoin payments, the financial services industry leads many other sectors in blockchain experimentation.
However, recent studies indicate very few organizations have adopted blockchain technology for any meaningful day-to-day use.
A change could be afoot, with several banks and financial services providers announcing significant blockchain projects in the last few weeks leveraging distributed ledger technology and digital tokens. Here's a look at the current status of blockchain and the obstacles to adoption, from the perspective of executives at financial services companies and other organizations.