Morgan stanley blockchain still in proof of concept stage

Morgan stanley 43 White paper puts blockchain in proof of concept stage until 2020 when common infrastrcuture is created

 Morgan Stanley writes that Blockchain, the technology for an open, verifiable general ledger, is still in a “proof of concept” phase, and it may be several years before it is used in everyday practice for financial settlements. They see incumbents such as UBS and BNY Mellon having an early advantage in testing the technology. The reason for the soaring value of Bitcoin and other crypto-currencies is less clear, they write.