April 20, 2017
We have always asserted that blockchain is an ecosystem-level technology that stands to bring about cost-related and operational efficiencies in interconnected systems, an exchange, for instance, perfectly fits the bill. We have come across three general approaches that enterprises consider towards realizing the potential of blockchain:
1. Partnering with a startup 2. Building an in-house team 3. Joining a consortium in order to realize blockchain.
A recent survey report released by LTP, in partnership with Infosys Finacle, shows that 30% of participants representing banks and financial institutions have taken the consortia route.
According to William Mougayar's (author of The Business Blockchain) December 2016 analysis, there are 25 global consortiums driving blockchain initiatives across industries. They have amassed a membership base of 550 in total while the average count of members stands at 25 per consortium.