Blockchain will help banks annually save $ 27 billion

The study of the analytical company Juniper Research has shown that, subject to integration by the banks of the blockchain technology in their activities, they will be able to reduce the costs of transboundary settlement operations and annually save $ 27 billion (11%).

Juniper Research assessed strategic prospects for introducing into various fields of banking. At the same time, for some departments, efficiency is higher than for others. For example, the automation of the money laundering check process using the blockchain will reduce the cost of 50% in just a few years.

The report also talks about the benefits for other industries. It is expected that the blockchain will increase the efficiency in the field of food trade, where within 12 years the costs associated with fraud will decrease by 50%.

In this direction, IBM has already begun to work, which plans to create