A lot is happening in the blockchain arena. And many announcements are being made of new proof of concepts, and initiatives in a large number of areas. But does that mean that 2018 will be the year of the breakthrough of blockchain? Let's look what the various organisations think. That could give some indications.
Accenture
First of all Dutch-based consultancy Accenture. According to them, the years 2015 and 2016 focused on research and proof of concepts (PoC's ) in a broad spectrum of blockchain use cases. But for 2017 – 2018 the organisation expects Dutch banks will concentrate on a number of real-world application areas and use cases. Thereby the focus will be on solutions that are ripe for commercialisation. During these years blockchain will develop in the banking world form promise to a valuable solution, Accenture expects.
Banking group: Blockchain to be “widely adopted by 2018“
Another interesting initiative is that of Deutsche Bank, UBS, Santander und BNY Mellon. They have announced a blockchain product cooperation and develop a digital currency of their own, to be market ready by 2018. According to the group, reliable, ready-to-run products across industries will have a positive business case within the next few years. “By that time, we will not even notice that Blockchain is the enabling technology anymore. It will have matured enough to promote itself in widely accepted, evolutional steps rather than in a disruptive, revolutionary manner”.
BTMU plans international fund transfers via blockchain in 2018
Also worthwhile to mention is the cooperation between Bank of Tokyo-Mitsubishi UFJ (BTMU) and six other international banking groups, including Bank of America Merrill Lynch, Standard Chartered Bank of the U.K., Royal Bank of Scotland, Spain's Banco Santander, Canadian Imperial Bank of Commerce and Australia's Westpac Banking. They will launch a faster and lower-cost cross-border wiring servi
ce that uses blockchain, in 2018. US start-up Ripple will thereby provide blockchain technology. This group will initially offer the global blockchain transfer service to individuals in early 2018, and then slowly expand to corporate clients.
What do you think Ripple price will be in 2018?
At this moment the price is in balance. Aggressive sellers are no longer, but no big buyers. Two things can move the price upwards: the emergence of new positive news about XRP or the appearance of buying whales. And how long will this flat area last? Well, in the absence of the two reasons listed above, this consolidation may take months. But I do not intend to sell any XRP at these prices, but on the contrary I will buy if there are any drops. The price is very cheap now, and whoever has patience will be rewarded.
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