Caitlin Long Chairman, board and President at Symbiont.io, made these remarks during IMN Blockchain Conference in New York in 2016. They are still relevant as the 12 months are not up yet. She sees that banks will widely adopt the Blockchain in the syndicated loan market. Insurers and reinsurers will complete reinsurance syndication on a Blockchain. She also predicts that a credit card company will deploy a Blockchain as its network in mobile payments.
She believes that some Blockchain start-ups and projects will fail to keep up with their hype. As she states, “it’s hard to deliver Blockchain software that meets institutional level requirements for performance security and functionality.”
In addition she states that more central banks in small countries will follow the lead of the central bank of Barbados which green lighted a Blockchain start-up called Bitt to create digital Barbados dollar that uses bitcoin Blockchain as an alternative method for settling foreign exchange.
As for the Delaware Blockchain initiative, it will improve the delivery of all kinds of government services by the State which will force others to take suite.
Finally the Bank of England will issue sterling on a Blockchain causing the pound to become preferred intermediary currency for cross border payments and creating a new competitive advantage for London’s financial markets post-Brexit.