Asset Managers Expect to Be Using Blockchain in Five Years

A new survey has found that nearly two-thirds (64%) of asset managers expect to using blockchain technology within the next five years.

Conducted by consultancy Roubini ThoughtLab, the findings are part of a report entitled "Wealth and Asset Management 2021", a broad research offering that aimed to study how investment providers are embracing new technologies.

When asked about technology-enabled investment tools, 39% indicated that they expect blockchain will form a part of next-generation digital wealth management platforms, though it was not the fastest-growing technology among those surveyed.

Over the next five years, respondents expected artificial intelligence and virtual reality use to grow the fastest followed by web analytics and sentiment analysis.

Notably, 45% of respondents are targeting blockchain in the short-term, indicating that they expect the technology to become a bigger part of their business by 2021.

Bank of Montreal, Broadridge, CFA Institute, Cisco, eToro, Schroders, SEI and State Street also contributed to the report.

Investment analysis image via Shutterstock