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S&P: Too Early for Blockchain to Impact Credit Ratings
S&P believes it's too early for the use of blockchain tech to be a factor in its corporate credit analysis.
By Pete Rizzo
Updated Sep 11, 2021, 12:35 p.m. Published Oct 27, 2016, 12:34 p.m.
One of the top corporate credit ratings providers believes it's too early for the use of blockchain tech to be a factor in its analysis.
In a report published this week, Standard & Poor's (S&P) reportedly weighed in on the emerging technology, asserting that while it believes the "market-wide adoption" of blockchain technology remains far off, it continues to monitor its evolution due to its anticipated impact.
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Notably, S&P said it does not see the use of blockchain technology to be a ratings driver "in the near term or even perhaps in the long term".
S&P continued:
"But we consider that, depending on the technology's eventual application and whether it takes hold in the financial industry, it could have a substantial impact on institutions' business models."
S&P further stated that it would consider changing this view should adoption occur faster than it "currently expects" or if the technology substantially impacts industry business models.
Ratings image via Shutterstock
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