According to Bitcoin, the cryptocurrency saw an annual gain of 54% in 2016, outperforming all fiat currencies, most of which stumbled this year.
Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency.
As a result, venture capital firms and financial institutions alike are pouring investment into finding, developing, and testing blockchain use cases.
Banks and major financial institutions are working both collaboratively and independently to develop blockchain tech.
Over 50 major financial institutions are involved with collaborative blockchain startups, like R3 CEV or Chain.
Persons:
it's, Bitcoin, Dow Jones, It's, Trump, Jaime Toplin, Banks
Organizations:
Nasdaq, Lisk, That's, Insider Intelligence, Business, Aite, CEV
Locations:
London, US, Santander, blockchain