Blockchain will be used by 15 percent of big banks by 2017
A major shift is underway among startups and big banks want to use blockchain technology to make traditional bank processes cheaper, faster and more efficient. The movement toward greater blockchain adoption is mostly happening at medium and large-sized institutions, and those banks are largely focusing on consumer lending, retail payments and reference data, according to Forbes.

Banks test blockchain for syndicated loans with symbiont R3
Nine international banks, including U.S. Bank and Wells Fargo, are testing blockchain and smart contract technologies to see if they can improve the syndicated loan market, according to American Banker. They’re seeking proof that processing loan data exclusive on a blockchain could slash costs to maintain individual lending systems.

Blockchain: a solution looking for a problem
As new financial technologies show significant promise, some applications are either totally of course or a bit naive, asserts Alexander Lipton, Connection Science Fellow at MIT and adjunct professor of mathematics at New York University, in a post for Expectations of the technology, in his opinion, seem to be higher than blockchain can actually achieve.

US Central Bank Chair: Blockchain could have ‘significant’ impact
During an appearance before the House of Representatives committee, Federal Reserve chairwoman Janet Yellen said the fed wasn’t investigating blockchain applications, but she did remark that the technology could have a great deal of influence over payments and banking in the future, according to CoinDesk. “It could have very significant implications for the payments system and the conduct of business. We want to foster innovation. I think innovation using these technologies could be extremely helpful and bring benefits to society.”

Blockchain Presentation Draws 250 Businesspeople in Chicago
At a recent event in Chicago’s innovation hub 1871, William Mougayar, investor, startup advisor and author of The Business Blockchain, discussed the potential for blockchain to to streamline database management, upend third-party authentication, and the overall infancy of blockchain implementation.