Banks to investing heavily on blockchain technology in 2017

As World Markets where Bitcoin is traded find a common ground for the price, what are your thoughts as to what is at the heart of this new trend, do you believe this trend is temporary or do you think this trend is a sign of things to come in the future for Bitcoin and cryptocurrency like STEEM? Please let me know in the comment section below, as usual I look forward to reading all the responses.

Blockchain is distributed database that's a continuously growing list of ordered records called blocks. Blockchains are designed to be resistant to modification of the data once recorded. Bitcoin is a form of blockchain technology.

50% of banks surveyed have already invested in blockchain technology or will do so in 2017. Average investment in blockchain projects in 2017 is expected to be about $1 million. 33% of financial company respondents expect to see commercial blockchain adoption by 2018, while majority 50% expect to see it by 2020. The adoption of blockchain technology by banks is expected to grow faster in the coming years.

According to an Infosys Finacle-LTP survey, 50% of banks have already invested in blockchain technology or will do so in 2017. The average investment in blockchain projects in 2017 is expected to be about $1 million.