In line with an official ‘press release‘ published, TD Bank survey disclosed that 90% of treasury and finance professionals assume that blockchain along with DLT [distributed ledger technology] can absolutely have a positive effect on the payments industry.
The recent survey, conducted by ‘top 10‘ U.S.-based bank TD which is a subsidiary of the Canadian multinational Toronto-Dominion Bank occupied around 406 industry professionals at the 2018 AFP Conference held earlier in Nov. 5th to 6th, in Chicago, Illinois.
The answers collected additionally revealed that solely 14% of the respondents aforesaid that their organization has coaching strategies for blockchain.
Moreover, 45% of the respondents aforesaid that their organization has coaching strategies for information and analytics and 26% for AI [Artificial intelligence] and automation. In line with the press-release, 29% of respondents assume that the highest impact of DLT and blockchain is its ability to boost audit trails.
However on the opposite hand, 22% assume that the highest potential of this technology is dashing up the payment method, while 21% assume it’s improving the existing cross-border payments and 18% aforesaid reducing payments fraud.
Head of corporate Products and Services at TD Bank named ‘Rick Burke’, commented that “the varied responses indicate that the technology’s specific capabilities and implications are still a good unknown for several finance pro’s.”
As reported earlier, 40% of institutional investors believe blockchain might also be the foremost necessary innovation since the web, in line with a survey conducted by a trade association.
Data obtained through an analogous survey revealed earlier in the month of Jan., revealed that around 63% of institutional investors believe that their senior business executives have a poor ‘knowledge‘ related to the blockchain technology.